CEO of Japanese Energy Firm to Receive Primary Salary in Bitcoin

Tokyo-based energy company Remixpoint is pioneering crypto compensation, set to pay its new CEO, Takashi Tashiro, primarily in Bitcoin (BTC) as part of its stated strategy for “shareholder-oriented management.”

Implementation Details

According to a statement issued Tuesday, Tashiro’s remuneration will be calculated, converted into Japanese Yen equivalent, and fully paid out in Bitcoin. The company will buy the required amount at market price and transfer it directly to a wallet designated by the CEO.

As reported in a translated statement: “The remuneration will be paid in a form compliant with the Company Act and taxation regulations, specifically utilizing Bitcoin… Furthermore, we plan to acquire an equivalent amount of Bitcoin using Japanese Yen and deliver it to the President and CEO’s crypto asset wallet.”

Strategic Positioning

Tashiro assumed the role of CEO in June, emphasizing that “Bitcoin will be placed at the core of our financial strategy as part of a shift towards a treasury management-focused approach.”

Remixpoint CEO Takashi Tashiro
Remixpoint CEO Takashi Tashiro. Source: Remixpoint

Existing Crypto Holdings

Well before Tashiro’s appointment, Remixpoint had already built a substantial treasury of digital assets. Holdings reported as of June 13 included over 1,051 BTC, 901 ETH, 13,920 SOL, 1,191,204 XRP, and 2,802,311 DOGE, valued at over $116 million.

CEO’s Other Ventures

Beyond Remixpoint, Tashiro is currently part of the management team at BITPoint, a Japan-based cryptocurrency exchange affiliate of the SBI Group, which promotes various crypto assets.

Precedents Exist

Remixpoint’s move, while significant, is not the first instance of a company executive receiving a crypto salary. In 2021, UK-based crypto mining firm Argo Blockchain announced its CEO, Peter Wall, would be paid in BTC after citing examples like NFL player Russell Okung who planned to convert part of his salary to crypto.

Further examples include former NYC mayoral candidate Eric Adams, who pledged to receive his first three paychecks in Bitcoin during the 2021 election and continues to express satisfaction with the decision since the cryptocurrency’s value has increased significantly.

Related: Metaplanet eyes digital bank acquisition in phase 2 of Bitcoin strategy

Magazine: Baby boomers worth $79T are finally getting on board with Bitcoin