PANews reported on July 22 that, according to The Block, the small cryptocurrency mining company Bit Origin (stock code BTOG) announced the completion of its first batch of Doge purchases, acquiring a total of 40,543,745 Doge at an average cost of approximately $0.2466 per Doge. This purchase occurred less than a week after the company announced the establishment of a $500 million Doge enterprise treasury last Thursday.
The company's CEO Jinghai Jiang mentioned in a statement that, based on their understanding of the proof-of-work mechanism, they believe Doge is approaching a turning point in its potential for small payment applications. The announcement specifically noted that the plan was partly inspired by Musk's and his social media platform X's "super app" vision.
