CEO of the company says that Elon Musk will continue to drive Dogecoin.
For now, Memecoin is not showing outstanding performance in the current cycle.
Bit Origin Ltd (BTOG), a company listed in Nasdaq, formalized agreements to sell up to 400 million dollars in ordinary class A shares and 100 million dollars in convertible debt, with the objective of financing a treasury strategy focused on the accumulation of the Dogoin (Doge) memecoin (Doge).
The company seeks to position yourself as One of the biggest corporate holders of this cryptocurrencyintegrating it into its portfolio of digital assets.
With this initiative, Bit Origin aims to generate long -term value by increasing the amount of Doge per action, explained In a statement. The company also bets on possible Memecoin integrations into payment systems such as X Moneythe Social Network X payment platform, designed to facilitate rapid and accessible transactions globally.
Jinghai Jiang, executive director and president of Bit Origin, stressed that the company is evolving from its approach to mining infrastructure towards direct use of the value and usefulness of digital assets such as Doge.
In addition, Jiang stressed the relevance of Dogecoin in the financial panorama, pointing out his global liquidity and – according to his growing adoption in pairs and online trade payments, thanks to the speed of his transactions and the support of an active community.
The company is confident that this community, together with the leadership of the businessman and billionaire Elon Musk, who has supported Doge since 2019 after being symbolically appointed his CEO by the community, drives his integration in X Money and strengthens his position in the digital payments ecosystem. That is to say, The success of the Doge accumulation strategy of this company depends greatly on what Elon Musk decides with that cryptocurrency In your companies. If the billionaire does not continue «pumpeando»The memecoin or does not give use to X Money, its price may not be able to take off again.
On the other hand, Bit Origin Plan diversify its operations within the Dogecoin ecosystemexploring mining services, payment applications and other activities that generate value.
Bit Origin is quoted in the Stock Exchange since 2019, this year has suffered a 58% drop in the price of its shares. However, the strategy announced today allowed its performance to improve, with the shares rising from 0.15 to $ 0.66.
The company also confirmed that completed an initial closure of 15 million dollars in convertible debtallocating a significant part of these funds to the initial acquisition of Doge. Although Memecoin does not show a prominent performance in the current cycle, Jiang highlighted his ability to embody a culture of optimism and resilience, which makes it an attractive asset in a context of financial and political institutions in transformation.
In this way, Bit Origin joins an institutional and business tendency initiated with Bitcoin (BTC). Strategy, led by Michael Saylor, is a clear example of this, being the public contribution company with more BTC in its treasury, as reported by cryptocies. Other companies, such as Sharplink Gaming and Bitmine, have adopted this strategy with Ethher (ETH), consolidating the growing acceptance of digital assets in the corporate field.
