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Blockchain Firm Neptune Digital Assets Adds DOGE to Its Bitcoin Accumulation Strategy
The publicly traded company plans on accumulating other cryptocurrencies through its Sygnum credit line..
Feb 4, 2025, 4:46 p.m.
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What to know:
- Neptune Digital Assets bought 1 million DOGE at an average price of $0.37 per token.
- The firm also acquired 20 bitcoin at an average price of $99,833 each.
Blockchain firm Neptune Digital Assets (NDA) said it bought 1 million tokens through what the company said was a “strategic derivative purchase” on Dec. 27.
The Vancouver, Canada-based company, which focuses on cryptocurrency and blockchain infrastructure, is down significantly on the investment. The memecoin has dropped 27% to 27 cents since the purchase.
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Neptune Digital Assets also acquired 20 bitcoin at an average price of $99,833 per coin, bringing its total BTC holdings to 376 coins worth $37.2 million.
While many companies have made buying bitcoin a strategic objection, Neptune is only the second publicly traded firm to invest in the meme-inspired DOGE. The first, Spirit Blockchain (SPIR), announced in November that it acquired Dogecoin Portfolio Holding in a move that made it a major participant in the DOGE ecosystem.
“Neptune will be acquiring additional assets, leveraging our enhanced purchasing power through the Sygnum credit line,” CEO Cale Moodie said in the statement. “With a strong focus on BTC, these initial acquisitions show Neptune’s commitment to its growth strategy while meticulously managing leverage risk and debt levels.”
The announcement comes just a week after major asset manager Bitwise filed an S-1 document with the Securities and Exchange Commission for an exchange-traded fund tied to the price of DOGE.
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Trump-linked Truth Social seeks SEC approval for two crypto ETFs
The filings include a bitcoin and ether ETF and a staking-focused Cronos fund, deepening the Truth Social brand’s ambitions in digital asset investing.
Ano ang dapat malaman:
- Yorkville America Equities, the firm behind Truth Social–branded ETFs, has filed with the SEC to launch a Truth Social Bitcoin and Ether ETF and a Truth Social Cronos Yield Maximizer ETF.
- The proposed Cronos-focused ETF would invest in and stake Cronos (CRO) tokens, aiming to generate yield through staking rewards in addition to price exposure.
- If approved, the funds would be launched in partnership with Crypto.com, which would provide custody, liquidity and staking services, and be distributed through its affiliate Foris Capital US LLC.
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