Dogecoin gains traction as a treasury asset: Bit Origin announces first institutional purchase

Bit Origin has added Dogecoin as a treasury asset, marking another milestone for institutional adoption of cryptocurrencies beyond Bitcoin. 

The American company specializing in cryptocurrency mining has formalized the acquisition of 40,5 million Dogecoin (DOGE) as part of a corporate strategy to consolidate a digital treasury focused on this digital asset. 

According to the company, the transaction was valued at nearly $10 million and executed at an average price of $0,2466 per DOGE. The move not only positions the meme coin as a key component of Bit Origin's balance sheet, but also reflects an emerging trend toward institutional diversification with alternative cryptocurrencies.

Bit Origin follows in Strategy's footsteps, but with Dogecoin as its key asset

The initial Dogecoin purchase is part of Bit Origin's larger plan to raise up to $500 million through a combination of equity and convertible debt. 

According to CEO Jinghai Jiang, the goal is build a significant reserve of DOGE that functions as a strategic asset within the company's financial structure. This decision is inspired by previous models, such as Strategy's with Bitcoin, but with a different approach, trusting in the potential of a cryptocurrency that has evolved from its origins as a memecoin to concrete applications in digital payments.

With this initiative, Bit Origin, which is listed on Nasdaq under the ticker BTOG, seeks to strengthen its position in the crypto ecosystem, in addition to generating value for its shareholders through an internal metric called DOGE-per-share (DPS), which measures the ratio of tokens per share outstanding.

From X, the company assured that Dogecoin is no longer just a novelty asset, but has become a globally liquid asset, offering low transaction fees, fast settlement, and broad community adoption. All of these characteristics make DOGE an asset with real utility. 

Why Dogecoin? Utility, culture, and liquidity

Dogecoin was launched in 2013 as a parody of Bitcoin, but its evolution has been remarkable. Based on the Scrypt algorithm and with a proof-of-work (PoW) model, DOGE offers fast transaction times and low fees, features that make it attractive for micropayments y daily transfers. 

Furthermore, as the company points out, DOGE has an engaged and active community, which strengthens its cultural presence and has contributed to its liquidity and global recognition.

For Bit Origin, these attributes make DOGE a viable candidate to play a significant role in decentralized finance (DeFi). The company believes the token is nearing an inflection point, driven by renewed developer interest, expanding use cases, and the potential for integration into platforms like X Money, the payment system Elon Musk plans to implement on the X social network.

The wave of crypto institutionalization

Bit Origin's announcement had an immediate impact on the market, as its shares rose more than 10% in the hours following the news. In the past week, the company's stock has nearly doubled in value, up 95%.

This rally may reflect investor confidence in the company's digital strategy and Dogecoin's potential as a corporate asset. Furthermore, the transaction has been interpreted as a sign of maturity for DOGE, which until recently was viewed as a speculative cryptocurrency without solid foundations.

However, the institutionalization of Dogecoin isn't limited to Bit Origin. Other companies, such as Heritage Distilling and House of Doge, have also begun including DOGE on their balance sheets or accepting payments in the cryptocurrency. Proposals have even been made for Dogecoin-based exchange-traded funds (ETFs), which could open up new avenues for regulated exposure for institutional investors.

Dogecoin in the context of decentralized finance

Beyond its use as a means of payment, Dogecoin is beginning to be integrated into DeFi applications. Some lending platforms already accept it as collateral, and its presence in NFT markets is growing. The Dogecoin Foundation has driven technical developments that allow for greater interoperability and scalability, including improvements to smart contracts and compatibility with networks like Ethereum.

Bit Origin plans to take advantage of this development to expand its operations beyond mining, exploring payment services and decentralized applications within the DOGE ecosystemThis transition represents a strategic shift: from being an infrastructure provider to becoming an active player in the digital economy.

What's next for DOGE?

In short, Bit Origin's decision could mark the beginning of a new era for Dogecoin, in which its practical utility and institutional adoption become drivers of sustained growth. While challenges persist, such as the concentration of tokens in a few addresses and market volatility, the backing of public companies and the possibility of integration into global payment systems reinforce its legitimacy as a financial asset.

In this context, DOGE is moving beyond being just a meme coin and becoming a strategic tool that combines liquidity, digital culture, and technological potential. Bit Origin has embraced that narrative, and the market seems to be listening.