Neptune Digital Assets Expands Cryptocurrency Holdings, Including DOGE, via Strategic Purchase
Blockchain firm Neptune Digital Assets (NDA), based in Vancouver, Canada, has announced the acquisition of 1 million dogecoin (DOGE) tokens, which were purchased through a “strategic derivative purchase” on December 27.
The company, known for its focus on cryptocurrency and blockchain infrastructure, is currently facing a significant dip in the value of its DOGE investment. The price of the memecoin has fallen by 27%, bringing its value to 27 cents per token since the purchase.
In addition to its DOGE acquisition, Neptune also added 20 bitcoin (BTC) to its portfolio, purchasing them at an average price of $99,833 per coin. This brings the company’s total bitcoin holdings to 376 BTC, valued at $37.2 million.
While Bitcoin remains a major strategic focus for many crypto firms, Neptune is only the second publicly traded company to invest in DOGE. Spirit Blockchain (SPIR) became the first, announcing its acquisition of a Dogecoin Portfolio Holding in November, positioning itself as a key player in the DOGE ecosystem.
“We will continue to acquire additional assets, leveraging our enhanced purchasing power through the Sygnum credit line,” said Neptune’s CEO, Cale Moodie, in a statement. “With a primary focus on BTC, these initial acquisitions demonstrate Neptune’s commitment to its growth strategy, while carefully managing leverage risk and debt levels.”
This announcement follows news from major asset manager Bitwise, which recently filed an S-1 document with the Securities and Exchange Commission for an exchange-traded fund linked to the price of DOGE.
