Nasdaq-listed company Bit Origin has announced plans to create a large treasury in Dogecoin, fully funded through a $500 million fundraising effort.
Treasury Strategy for Dogecoin
Bit Origin plans to raise $500 million, of which $400 million will be raised through equity sales and $100 million through convertible debt, to accumulate Dogecoin as a core asset.
Company Goals and Initial Capital
The company has already raised $15 million and plans to use a significant portion of the proceeds for its first Dogecoin purchase. Bit Origin aims to become one of the largest publicly traded Dogecoin holders in the market.
CEO's Statement
CEO of Bit Origin Jinghai Jiang stated: “The company goes beyond mining infrastructure to directly participate in the value and utility of digital assets. What started as a joke has evolved into a globally liquid asset with ease of payment. Few digital assets can compete with the payment speed and community power of Dogecoin, which continues to drive adoption in peer-to-peer payments and online commerce.”
Bit Origin's plans for a large Dogecoin treasury may reflect a growing interest in this asset, which continues to gain popularity among investors.
