A Chinese pork producer turned BTC miner launches a Dogecoin plan.
The CEO of Bit Origin, Jinghai Jiang, stated that the company adopted Dogecoin for its treasury because they see its "potential utility for micropayments".
The Chinese pork processing and Bitcoin mining company Bit Origin has officially launched its cryptocurrency treasury initiative with its first acquisition of 40.5 million Dogecoin.
In a statement issued on Monday, the company claimed that the purchase of Dogecoin
DOGE
€0.21
was the "first strategic acquisition" under its digital asset treasury initiative, backed by a stock sale and a debt issuance aiming to raise $500 million.
At an average price of $0.24 per coin, it is reported that Bit Origin spent approximately $9.9 million on its recent acquisition of Dogecoin. According to Nansen, the token is currently trading at $0.26.
