Zinger Key Points
- Dogecoin’s low fees, speed, and growing merchant adoption underpin Bit Origin’s long-term Doge-per-share growth strategy.
- The treasury announcement positions Bit Origin as one of the largest institutional DOGE holders in the public markets.
- Tim Melvin’s system has spotted 10X winners like NVIDIA and Matador—see his next 6 picks and the options strategies to multiply gains at a free July 23 event. Register Here.
Bit Origin Ltd BTOG on Thursday announced plans to establish a dedicated Dogecoin DOGE/USD treasury, backed by up to $500 million in equity and debt facilities.
The Singapore-based company, publicly listed on a major U.S. exchange, becomes the first of its kind to designate Dogecoin as a core strategic asset.
According to a company press release, Bit Origin has secured $400 million in equity capital and an additional $100 million in convertible debt from accredited investors.
The firm has already closed $15 million in convertible debt, with a significant portion earmarked for Dogecoin acquisition.
The move marks a shift in Bit Origin's business strategy, from operating as a mining infrastructure provider to directly engaging with digital asset value creation.
CEO and Chairman Jinghai Jiang stated that Dogecoin's growing role in peer-to-peer payments and its low-fee, high-speed transaction profile made it a compelling addition to the company's balance sheet.
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"What started as a joke has evolved into a globally liquid asset with payments utility," Jiang said.
He also linked Dogecoin's grassroots culture and settlement speed to potential integrations into Elon Musk's envisioned payments ecosystem, X Money.
Bit Origin's strategy emphasizes long-term value growth by targeting an increase in Doge-per-share rather than traditional profit metrics.
The company plans to further explore opportunities within the Dogecoin ecosystem, including payment applications and miner-facing services.
With Dogecoin now trading at over $0.21, Bit Origin's move adds new momentum to the ongoing trend of meme coins gaining traction in institutional contexts.
The initiative also positions the company to become one of the largest public holders of Dogecoin.
The investment was facilitated by Chardan, which acted as the placement agent in the arrangement with ATW Partners.
The company's full strategic breakdown is available in its Form 6-K filed with the SEC on July 17.
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