Public Company Bit Origin's Bold Bet on Dogecoin: Wagering on the Micro-Payment Turning Point, Challenging the Institutional Meme Coin Narrative
Public Company Heavily Invests in DOGE, Aiming for Payment Turning Point
The Nasdaq-listed company Bit Origin (BTOG) recently accumulated 70.5 million DOGE (approximately $16 million) at an average price of $0.2268, and plans to expand its holdings to over 400 million through $400 million in financing, targeting to become "one of the largest corporate DOGE holders." CEO Jiang Jinghai stated that this move stems from DOGE's micro-payment potential being "close to an explosive turning point"—its 1-minute block confirmation speed and near-zero transaction fees far exceed those of Bitcoin, making it suitable for high-frequency payment scenarios; additionally, over 200,000 merchants worldwide already support DOGE payments, combined with expectations that Musk's X platform may integrate DOGE, forming ecological synergy. If the DOGE spot ETF is approved in October, it will further open traditional funding channels.
Bit Origin's decision to transform into "meme coin assetization" has sparked a strong market reaction, with a 90% surge in stock price on the announcement day. This move breaks the convention of "corporate treasury = Bitcoin," pioneering the anchoring of each share's value with DOGE (DPS ≈ 0.80 DOGE), propelling meme coins into the era of balance sheets. However, risks cannot be ignored: DOGE's price is highly volatile, and if it falls below the critical support of $0.20, it may trigger financial report impairments; the SEC's stance on meme coin ETFs remains unclear, while emerging coins like Maxi Doge are diverting funds with a 212% annualized staking yield, necessitating that DOGE quickly realizes its payment scenario to maintain competitiveness. $DOGE
