The race for altcoin treasuries takes a brand new flip. On July 17, 2025, it was reported that Nasdaq-traded firm Bit Origin vows to spend $500 million to rearrange a Dogecoin treasury. What makes Bit Origin assured in its transfer?
Bit Origin’s Dogecoin lengthy wager
Bit Origin introduced it had agreed with buyers to promote $400 million value of extraordinary shares and $100 million value of convertible debt. The corporate plans to grow to be the largest DOGE treasury. Its share value will recognize long-term by growing the DOGE per share ratio. Bit Origin has already raised $15 million, with most of this cash supposed for buying DOGE.
One of the causes Bit Origin sees potential in the memecoin is that DOGE is a favourite of Elon Musk’s, and followers speculate that the Tesla CEO will add it as a fee technique in an upcoming X Cash fee instrument.
Jinghani Jiang, a Bit Origin CEO, places it this fashion:
“We hope Doge’s efficiency and group make it a pure match for X Cash, as Elon Musk advances his imaginative and prescient for X as a world super-app. In an age of damaged establishments, Doge embodies a shared tradition of optimism and resilience that transcends current political and monetary techniques.”
Nonetheless, X has not confirmed the coin as a fee technique but. This uncertainty casts a shadow on the potential of Bit Origin to take off.
Along with the hope for the inclusion of the DOGE possibility in X Cash, the Dogecoin value could also be boosted by the emergence of DOGE-based exchange-traded funds. The U.S. Securities and Trade Fee has but to decide on whether or not to approve Dogecoin ETFs. Bitwise, 21 Shares, and Grayscale are at present awaiting the choice as they filed for the launch of spot DOGE ETFs.
Whereas Bit Origin has likelihood of changing into the most in depth DOGE treasury and the first public firm to determine a DOGE treasury, it isn’t the first company to wager on memecoins. In Could, Freight Applied sciences introduced the creation of a $20 million Trump token treasury.
Bit Origin’s problematic background
Bit Origin is a U.S.-based firm, previously from Singapore. The corporate was targeted on constructing the Bitcoin mining ecosystem; nevertheless, it has now transitioned right into a Dogecoin treasury. Identical to the most distinguished Bitcoin treasury firm, Technique (beforehand generally known as MicroStrategy), Bit Origin wasn’t a crypto-focused firm from day one. It underwent a metamorphosis following the stagnation of its inventory value in 2022. Earlier than 2022, the firm was an agricultural enterprise generally known as China Xiangtai Meals Co., Ltd.
As of July 19, its inventory (BOTG), which was beforehand traded above $120 in 2019, now prices a mere $0.70. The worth has been falling since the very starting, with a number of short-lived rallies in 2020 and 2021. Rebranding China Xiangtai Meals Co., Ltd. to Bit Origin and a change of focus didn’t change the downward course of the inventory value. Solely the lately introduced Dogecoin treasury plans helped to push the value from 35 cents to above 70 cents. Given all these, the DOGE gamble could also be the firm’s final resort to revitalize its significance.
Particular place of Dogecoin in the altcoin area
Whereas Dogecoin was initially launched as a parody cryptocurrency and finally deserted by its creator, it managed to stay one of the hottest and recognizable cryptocurrencies, paving the manner for varied dog-themed memecoins.
Some tasks which have tried to copy Dogecoin’s attraction embody massive tokens reminiscent of Shiba Inu, BONK, and Floki. All of them are amongst the high 100 cryptocurrencies by market capitalization. Nonetheless, Dogecoin remains to be the most distinguished memecoin. As of July 19, 2025, it occupies the eighth place with a market cap of over $36 billion.
As no crew was engaged on additional growth of Dogecoin, it grew to become a community-driven challenge. In the 2010s, Dogecoin was notably used for fundraising functions. In the first 12 months of its existence, the Dogecoin group donated their cash to the victims of a Dogewallet hack, which resulted in huge theft of cash. In 2014, Dogecoin was used to boost cash for a number of sportspeople, enabling them to take part in the competitors, and the targets had been achieved.
All through the years, Dogecoin has been supported by notable figures reminiscent of Vitalik Buterin, Snoop Dogg, Gene Simmons, and Elon Musk. In 2021, the latter’s humorous tweets about DOGE resulted in the short-term progress of the DOGE token. The dream of Dogecoin reaching $1 value nonetheless didn’t materialize; nevertheless, the information of Bit Origin’s DOGE treasury pivot re-ignited the group’s anticipation for Dogecoin’s rally.
Jinghani Jiang emphasised that Bit Origin can be as community-driven as Dogecoin itself. In a publication, The Wolf of All Streets podcast host Scott Melker described Bit Origin’s transfer as an indication of the rising treasury bubble.
