- Bit Origin acquires 40,543,745 DOGE (~$10M) for its treasury strategy
- DOGE‑per‑share stands at ~0.69; acquisition avg. cost $0.2466/DOGE
- Firm targets Dogecoin’s micropayment utility and DeFi evolution
Nasdaq‑listed Bit Origin (NASDAQ: BTOG) has taken its first step into the crypto treasury space by purchasing 40,543,745 DOGE, worth approximately $10 million. This move marks a significant milestone in the company’s strategy to hold digital assets as part of its balance sheet.
The acquisition reflects Bit Origin’s belief in the future utility of Dogecoin, not just as a meme coin, but as a tool for micropayments and decentralized finance (DeFi) use cases.
Treasury Metrics & Market Reaction
According to Bit Origin, the average acquisition price for the DOGE was $0.2466, and the company’s DOGE-per-share (DPS) now sits at around 0.691. This metric is designed to help investors track the value of the company’s holdings in real time.
Following the announcement, Bit Origin’s stock saw a sharp rise in pre-market trading, signaling strong investor interest in the company’s bold treasury shift.
Why Dogecoin?
CEO Jinghai Jiang emphasized Dogecoin’s growing relevance in the crypto world, especially as a low-fee, fast, and accessible option for daily transactions. He believes DOGE is reaching a tipping point in terms of utility and adoption, particularly for micropayment services.
With this acquisition, Bit Origin becomes the first U.S.-listed public company to add Dogecoin to its corporate treasury. It also sends a strong message to the market about Dogecoin’s evolving role in the broader crypto economy.
This move is part of a broader transformation for Bit Origin as it diversifies beyond its core mining business. Backed by capital access through equity and debt lines, the company plans to explore more digital asset investments in the future.
Read also:
- Crypto Market Cap Surges by $160B in 24 Hours
- Uniswap Integrates Revolut for Easy Crypto Purchases
- Texas Becomes First U.S. State to Invest in Bitcoin
- Kraken Acquires Backed Finance to Expand Tokenized Assets
- Tether Prints Another $1B USDT Amid Market Activity
