Bit Origin Ltd, a Nasdaq-listed company trading under the symbol BTOG, said it intends to raise $500 million to acquire Dogecoin (DOGE). The company would be the first U.S.-listed company to include Dogecoin in its treasury asset base.
The company aims to use $400 million from stock sales and $100 million from convertible debt to fund this plan. It has already raised the first $15 million to start buying DOGE.
According to the company’s chairman and CEO, Mr. Jiang Jinghai, the goal is to build long-term value by holding Dogecoin, increasing the amount of crypto owned per share of the company. This bold move could change how other businesses think about Dogecoin and whether it can be used as a serious investment, not just a meme coin.
At the time of writing, Dogecoin had a market cap of $31.89 billion and was trading around $0.21. The coin’s price had risen 4% in 24 hours. Trading volume also jumped by nearly 80%, reaching $3.64 billion. Following the Dogecoin treasury plan announcement, its stock price surged 25.68% to $0.42 on the day.
