Neptune Digital Assets Incorporates DOGE into Bitcoin Investment Strategy
Finance/Markets

Neptune Digital Assets Incorporates DOGE into Bitcoin Investment Strategy

Neptune Digital Assets engages in accumulating various cryptocurrencies, including Dogecoin, as it expands its investment strategy.

Trade with eToro

Trade with eToro

Open an account

Trade on XM

Trade on XM

Open an account

Overview

Neptune Digital Assets has made a strategic move by acquiring 1 million Dogecoin (DOGE) tokens at an average price of $0.37 each on December 27. Additionally, they obtained 20 Bitcoin (BTC) at an average cost of $99,833 per coin, which brings their total Bitcoin holdings to 376 coins, valued at approximately $37.2 million.

Key Points

  • The company, based in Vancouver, Canada, is facing a significant drop in the value of its Dogecoin investments, which decreased by 27% since their purchase.
  • Neptune is the second public company to invest in Dogecoin, following a November acquisition by Spirit Blockchain.

Quote from CEO

“Neptune will be acquiring additional assets, leveraging our enhanced purchasing power through the Sygnum credit line,” stated Cale Moodie, CEO of Neptune Digital Assets. “These initial acquisitions demonstrate our commitment to growth while managing risks related to leverage and debt levels.”

The announcement follows a recent filing by Bitwise to launch a Dogecoin-based ETF.

Next article

Significant Ether Outflow of Nearly $1B Amid Trade War Concerns

Newsletter

Get the most talked about stories directly in your inbox

Every week we share the most relevant news in tech, culture, and entertainment. Join our community.

Your privacy is important to us. We promise not to send you spam!