BitOrigin kicks off $500M DOGE treasury with 40.5M buy, sparking analyst predictions of a fresh Dogecoin bull run.
The first part of BitOrigin’s $500 million Dogecoin treasury plan has begun with the announcement of the purchase of roughly 40.5 million DOGE.
With Dogecoin Treasury, BitOrigin Places Large Bets
BitOrigin, which is listed on the Nasdaq, announced in a press release that it had acquired 40.5 million DOGE for almost $10 million.
As the business enters the digital assets ecosystem, this points to the beginning of its 500M DOGE treasury plan.
The newly revealed DOGE holdings have an initial DOGE-per-share ratio of roughly 0.691 based on the company’s current share structure.
Each token has an average purchasing price of about $0.2466.
The CEO and chairman of BitOrigin, Jinghai Jiang, asserts that this is not just a speculative decision but a calculated one grounded in the company’s mining know-how and comprehension of proof-of-work dynamics.
We see Dogecoin’s utility potential for micropayments nearing an inflection point, driven by renewed developer activity and broader institutional interest in tokenization. While we embrace its cultural origins, which have helped drive liquidity and global familiarity, we believe current market conditions align with Dogecoin’s evolution toward decentralized finance.
With this action, the corporation has indicated that it intends to become a primary institutional holder of DOGE, with up to $500 million set aside for its digital asset treasury.
This approach might expand BitOrigin’s holdings, enhancing the company’s ties to the token’s future if market conditions stay favorable.
The move by BitOrigin to enter DOGE-backed treasury positions is consistent with a rising trend among American companies.
For comparison, the financial sheets of Metaplanet and MicroStrategy (now Strategy) similarly show an increasing number of bitcoin holdings.
BitOrigin may become the first publicly traded Dogecoin treasury company on the Nasdaq thanks to its treasury concept.
In light Of Treasury Plans, Analysts Watch New DOGE Cycle
Market watchers have responded quickly to BitOrigin’s DOGE move. Some traders interpret technical indications as suggesting the possibility of further gains.
Dogecoin has broken past a long-standing resistance level on its daily chart.
The RSI indicator kept up its progress without showing any signs of bearish divergence.
Prominent cryptocurrency researcher GalaxyBTC noted the early stages of what may be a new DOGE cycle as institutional buyers like BitOrigin show interest in the market, boosting market confidence.
If DOGE retreats to retest support around $0.25, it may pave the way for a robust rebound that aims for $0.31 or possibly $0.42, according to trader Alan, also known online as Trader Tardigrade.
