Bit Origin bought 40.5 million Dogecoin to start a new meme coin treasury backed by major capital support.
The company now tracks its Dogecoin holdings with a per share metric to show clear treasury exposure.
Bit Origin shares jumped over 90% after the Dogecoin news showing strong support from investors.
Bit Origin confirmed the acquisition of approximately 40.5 million Dogecoin tokens on July 21st. The purchase supports its move to build a dedicated meme coin treasury. The transaction comes days after the company announced plans to diversify beyond Bitcoin. Bit Origin reported the acquisition cost averaged $0.2466 per DOGE.
https://twitter.com/Cointelegraph/status/1947476922327314509
The firm stated it has access to $500 million in capital through equity and debt. These funds will support its treasury initiative. With this acquisition, Dogecoin became the foundation of Bit Origin’s new digital asset strategy.
Institutional Strategy Behind the Move
Bit Origin is positioning Dogecoin as a core part of its long-term asset base. The decision reflects growing institutional attention on alternative tokens. The company aims to tap into the increasing demand for decentralized finance solutions.
Current market conditions and developer interest are driving this shift. Bit Origin highlighted Dogecoin’s use in micropayments and digital transactions. The firm is also watching developments related to X Money which is a payments platform tied to the X ecosystem.
By tracking holdings through a DOGE-per-share metric, the company is increasing transparency. It reported a DOGE-per-share ratio of 0.691. This allows investors to monitor treasury exposure more easily.
Share Performance and Market Reaction
Following the announcement, Bit Origin’s shares surged over 90%. The trading spike indicates strong market support for the company’s strategy. Since early July, shares have climbed more than 386%.
The latest acquisition was valued at around $10 million. Dogecoin also saw price gains, climbing 39% to $0.2677 in the past week. The rise followed a 71% gain over the previous month.
These developments place Bit Origin among other firms adopting DOGE treasuries. It joins Neptune Digital Assets and Dogecoin Cash Inc. in integrating meme coins into corporate strategies.
Focus on Diversification and Blockchain Utility
Bit Origin has primarily focused on Bitcoin mining infrastructure. This move signals a significant step toward diversification. The company now seeks to integrate broader blockchain applications.
Dogecoin’s utility and liquidity play a role in the decision. The company sees potential in its brand familiarity and user adoption. Increasing developer contributions may expand the coin’s real-world functionality.
The company intends to continue exploring crypto beyond Bitcoin. Its current capital access and market momentum support that plan. The move illustrates a changing view of meme coins in institutional portfolios.
