BIT ORIGIN POINTS TO A TREASURY OF 500 MILLION IN DOGECOIN😱
Bit Origin Ltd (NASDAQ: BTOG) has announced that it has secured funding totaling 500 million dollars to launch its Dogecoin treasury strategy. The cryptocurrency mining company based in Singapore structured the operation through 400 million dollars in Class A common stock and 100 million dollars in convertible debt.
The company, formerly known as China Xiangtai Food Co., Ltd, could become the first publicly traded holder of Dogecoin. The firm has already completed 15 million dollars in debt financing and plans to use a large portion of it for its first DOGE purchase.
This move represents an innovative strategy in the cryptocurrency sector, positioning Bit Origin as a pioneer in the institutional adoption of Dogecoin. The operation confirms the growing confidence of institutional investors in alternative cryptocurrencies and marks a significant moment for the Dogecoin ecosystem.
