Dogecoin finds another company Ministry of Finance than Bit Origin

Bit Origin (BTOG), a crypto mining company that is based in Singapore, which is traded with Nasdaq, is targeting Dogecoin as the core of a new strategy of Crypto Treasury. The company announced on Thursday that it contains agreements to collect 400 million US dollars in equity and an additional 100 million US dollars of convertible debts of accredited investors to support the move.

The company has already closed $ 15 million of the debts, with a significant part for the first round of DOG purchases.

Bit Origin takes a page from a well -known company game book: hortling crypto in the balance sheet. According to Microstrategy, led by Michael Saylor, the trend was aggressively Bitcoin in 2020. Since then, other companies have joined and expanded into ether beyond Bitcoin and in some cases smaller coins such as Doonecoin.

Although Dogecoin once considered a joke cryptocurrency, he now plays a greater role in cryptoma markets that were documented by an active community and the attention of the celebrities. Treasury strategies that affect Doge remain rare and make the pivot point of Bit Origin remarkable.

The company, which has been acted publicly since 2019, has recorded almost 100% since the list. This year it has dropped by 58% with a market capitalization of around 20 million US dollars. However, the announcement on Thursday helped to reverse some of these losses, with shares increasing 28% to $ 0.52.

For a company with a shaky track record and limited public visibility, Bit Origin's Dogecoin strategy is a game with high commitment to the perseverance of Memecoin and crypto-treasure masters of long-term financial instruments.

Doge has increased by 3.6% in the last 24 hours and is $ 0.21.