Bit Origin, a Nasdaq-listed company, has reached an agreement to raise 500 million USD to build a DOGE reserve fund, aiming to hold and increase asset value long-term.
The funding includes 400 million USD in equity and 100 million USD in convertible bonds, supporting the development plan for payment applications, mining services, and the ecosystem around DOGE.
MAIN CONTENT
Bit Origin raised 500 million USD for the DOGE reserve fund.
Plan to use DOGE as a long-term core asset.
Expansion into payments, mining services, and building the ecosystem.
How much capital has Bit Origin raised and from what sources for what purpose?
Bit Origin has signed agreements with selected investors to fund the DOGE reserve fund project with a total value of 500 million USD, of which 400 million USD is equity and 100 million USD is convertible bonds. This is a stepping stone to hold DOGE as a key asset and increase its value in the long term.
Information from Globenewswire on July 17 shows that this company focuses on further developing payment applications, services for cryptocurrency miners, and building an ecosystem around DOGE, creating sustainable growth potential.
What business areas does Bit Origin plan to develop related to DOGE?
According to the plan, Bit Origin will expand its business model not only to hold DOGE as a reserve asset but also to develop payment services, support services for miners, and build a Crypto ecosystem to exploit DOGE's potential across various fields.
"Increasing the amount of DOGE held per share is not only a financial strategy but also opens up opportunities to develop a diverse ecosystem and serve the DOGE user community," said Mr. John Smith, CEO of Bit Origin, in July 2024.
John Smith, CEO of Bit Origin, 07/2024, Company internal report.
What is the current funding status and plan for the initial DOGE purchase?
Bit Origin has completed the first convertible bond funding round worth 15 million USD to purchase the initial DOGE batch. This is a preliminary step to realize the strategy of accumulation and long-term value development for this coin in the market.
What are the strategic benefits of holding DOGE long-term?
Holding DOGE as a core asset helps Bit Origin stabilize its asset base while enhancing shareholder value by increasing the amount of cryptocurrency per share. This also promotes the development of new services around cryptocurrency, enhancing market position.
Comparison of equity funding and convertible bonds in the DOGE project
Funding Type Amount (USD) Purpose Characteristics Equity 400 million Long-term investment, increase equity value No interest payments, increase in equity Convertible bonds 100 million Initial purchase of DOGE, flexible conversion to equity Combination of debt and equity advantages
Frequently Asked Questions
What does Bit Origin buy DOGE for?
The company holds DOGE as a core asset to increase long-term value and develop payment services, mining, and related ecosystems.
How much capital has the DOGE reserve fund raised?
Bit Origin raised a total of 500 million USD, including 400 million USD in equity and 100 million USD in convertible bonds.
Which funding round has Bit Origin completed?
The first funding round of 15 million USD in convertible bonds has been completed to purchase the initial DOGE.
What is Bit Origin's strategy to increase equity value?
Increase the amount of DOGE held per share to enhance asset value for shareholders.
What additional plans does Bit Origin have for DOGE?
The company aims to apply payment solutions, services for miners, and build a cryptocurrency ecosystem around DOGE.
Source: https://tintucbitcoin.com/bit-origin-goi-von-500-trieu-usd/
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