Odaily Planet Daily News Nasdaq-listed Bit Origin (stock code: BTOG) announced that it has completed its first purchase of Dogecoin, totaling 40,543,745 DOGE, with an average purchase price of approximately $0.2466 and a total amount of approximately $10 million. The purchase was less than a week after it announced the establishment of an enterprise-level DOGE vault.
Bit Origin said it has obtained up to $500 million in equity and debt financing to advance the Dogecoin vault strategy. The company believes that the current market environment is conducive to the evolution of Dogecoin towards decentralized finance, and pointed out that DOGE has good liquidity and recognition worldwide.
Bit Origin joins Neptune Digital Assets, Dogecoin Cash Inc. and other companies in exploring Dogecoin investment strategies. The company's CEO, Jinghai Jiang, said that with its experience in mining, the company is optimistic about the potential of Dogecoin in small payment scenarios and believes that it is approaching a critical turning point, which is due to the increase in developer activity and the increase in institutional interest in tokenization. (The Block)