Dogecoin Jumps 10% After Bit Origin Pledges $500M To Treasury Strategy
The post Dogecoin Jumps 10% After Bit Origin Pledges $500M To Treasury Strategy appeared on BitcoinEthereumNews.com. Bit Origin Ltd announced that it will invest up to $500 Million into Dogecoin in a frantic push to add the memecoin as its treasury reserve asset. This marks a significant step toward diversifying its investment interests and expanding into payment-related services. Bit Origin Plans Major Dogecoin Treasury Strategy Bit Origin Ltd, a U.S.-based cryptocurrency company listed on NASDAQ under the symbol BTOG, has shared plans to invest as much as $500 Million into Dogecoin. The company stated that it has signed agreements with accredited investors to raise $400 million through the issuance of Class A ordinary shares. As noted, it will also raise an additional $100 Million through a convertible debt offering. It has already drawn down $15 Million from the debt facility and plans to use a large portion of that money to begin purchasing Dogecoin. It is worth noting that the move is part of Bit Origin’s Dogecoin treasury strategy. By holding Dogecoin and building services around it, the company aims to assume a more significant role in the digital asset space. Bit Origin expects this shift to bring long-term value to its shareholders by increasing its Dogecoin-per-share value over time. According to Chairman and CEO Jinghai Jiang, Dogecoin stands out for its transaction speed, low fees, and large user base. He said the company sees it as a strong candidate for payment use. This is pivotal with the upcoming launch of Elon Musk’s X Money, a payments feature for the X platform. It is worth mentioning that Bit Origin also plans to explore other Dogecoin-related projects. These could include tools for miners, payment applications, and services that facilitate the broader adoption of DOGE in online transactions. The company stated that it is moving beyond just mining and aims to participate in the broader value chain of…
The post Dogecoin Jumps 10% After Bit Origin Pledges $500M To Treasury Strategy appeared on BitcoinEthereumNews.com.
Bit Origin Ltd announced that it will invest up to $500 Million into Dogecoin in a frantic push to add the memecoin as its treasury reserve asset. This marks a significant step toward diversifying its investment interests and expanding into payment-related services. Bit Origin Plans Major Dogecoin Treasury Strategy Bit Origin Ltd, a U.S.-based cryptocurrency company listed on NASDAQ under the symbol BTOG, has shared plans to invest as much as $500 Million into Dogecoin. The company stated that it has signed agreements with accredited investors to raise $400 million through the issuance of Class A ordinary shares. As noted, it will also raise an additional $100 Million through a convertible debt offering. It has already drawn down $15 Million from the debt facility and plans to use a large portion of that money to begin purchasing Dogecoin. It is worth noting that the move is part of Bit Origin’s Dogecoin treasury strategy. By holding Dogecoin and building services around it, the company aims to assume a more significant role in the digital asset space. Bit Origin expects this shift to bring long-term value to its shareholders by increasing its Dogecoin-per-share value over time. According to Chairman and CEO Jinghai Jiang, Dogecoin stands out for its transaction speed, low fees, and large user base. He said the company sees it as a strong candidate for payment use. This is pivotal with the upcoming launch of Elon Musk’s X Money, a payments feature for the X platform. It is worth mentioning that Bit Origin also plans to explore other Dogecoin-related projects. These could include tools for miners, payment applications, and services that facilitate the broader adoption of DOGE in online transactions. The company stated that it is moving beyond just mining and aims to participate in the broader value chain of…
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