Dogecoin treasury company Bit Origin has highlighted how Michael Saylor’s Strategy has set the tone for their plans to accumulate DOGE. This came as the company is the first DOGE treasury company to be listed on the Nasdaq.
Dogecoin Treasury Looks To Replicate Strategy’s Playbook
In an X post, the Dogecoin treasury company revealed its plans to replicate Strategy’s playbook for its DOGE accumulation. Bit Origin stated that it will conduct a DOGE-denominated private placement, enabling it to accumulate more DOGE and achieve a higher DOGE per share. Michael Saylor’s company has set this playbook with its Bitcoin treasury, as the company is known to raise capital through this means to buy more BTC.
Meanwhile, Bit Origin mentioned how it has become the first Nasdaq Dogecoin treasury. CoinGecko data shows that the company currently holds 70.5 million DOGE ($16 million). The company was notably the first DOGE treasury company to emerge when it announced $500 million private placement in July earlier this year to accumulate the meme coin.
Bit Origin’s stock has recorded significant gains since the company established its DOGE treasury. TradingView data shows the stock is up 170% over the last six months, around the time they began accumulating DOGE. However, the stock is down 58% year-to-date (YTD). The stock peaked at $0.7 after the treasury move but is now trading at around $0.4.
Meanwhile, the Dogecoin treasury company also outlined its next move as it goes all in on DOGE. This includes plans to expand the treasury. Furthermore, they plan to build merchant payment rails and integration tools, and launch miner and ecosystem-focused services. Bit Origin stated that the goal is to drive adoption at scale, powered by Dogecoin and for Dogecoin.
House of Doge To Join Bit Origin On The Nasdaq
Dogecoin Foundation’s corporate arm, House of Doge, is also set to join Bit Origin on the Nasdaq, potentially becoming the second Nasdaq-listed Dogecoin treasury company. House of Doge recently announced a merger agreement with Brag House Holdings (TBH) to facilitate its public listing.
House of Doge plans to promote the institutional adoption of Dogecoin. Notably, the company was also instrumental in setting up CleanCore’s DOGE treasury. CleanCore, which is listed on the New York Stock Exchange (NYSE), boasts the largest DOGE treasury, with 710 million coins ($140 million).
The company has already revealed its intention to accumulate up to 1 billion DOGE. It is worth mentioning that Elon Musk’s lawyer, Alex Spiro, is the chairman of the company’s board. Meanwhile, unlike Bit Origin, CleanCore’s stock has been down since it began accumulating DOGE.
At the time of writing, the DOGE price is trading at around $0.197, up over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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