On July 22, Bit Origin (Stock Code: BTOG) announced on Monday that it has acquired 40,543,745 Doge, with an average purchase price of approximately $0.2466 per Doge, an action that took place less than a week after the company officially established a company treasury centered on Doge.
The company has a market value of around $45 million, with its stock price below $0.80. Last Thursday, Bit Origin announced that it had obtained equity and debt financing of up to $500 million to launch an enterprise-level Dogecoin reserve vault.
Bit Origin's CEO stated: "Our new starting point has been opened. With our experience in mining, we are well aware of the trade-offs in the Proof of Work (PoW) system. We believe that with developers becoming active again and institutional interest in tokenization growing, Dogecoin's practical potential in small payments is approaching a critical point."
