4 months ago
Blockchain steadfast Neptune Digital Assets (NDA) said it bought 1 cardinal dogecoin (DOGE) tokens done what the institution said was a “strategic derivative purchase” connected Dec. 27.
The Vancouver, Canada-based company, which focuses connected cryptocurrency and blockchain infrastructure, is down importantly connected the investment. The memecoin has dropped 27% to 27 cents since the purchase.
Neptune Digital Assets besides acquired 20 bitcoin (BTC) astatine an mean terms of $99,833 per coin, bringing its full BTC holdings to 376 coins worthy $37.2 million.
While galore companies person made buying bitcoin a strategical objection, Neptune is lone the 2nd publically traded steadfast to put successful the meme-inspired DOGE. The first, Spirit Blockchain (SPIR), announced successful November that it acquired Dogecoin Portfolio Holding successful a determination that made it a large subordinate successful the DOGE ecosystem.
“Neptune volition beryllium acquiring further assets, leveraging our enhanced purchasing powerfulness done the Sygnum recognition line,” CEO Cale Moodie said successful the statement. “With a beardown absorption connected BTC, these archetypal acquisitions amusement Neptune’s committedness to its maturation strategy portion meticulously managing leverage hazard and indebtedness levels.”
The announcement comes conscionable a week aft large plus manager Bitwise filed an S-1 papers with the Securities and Exchange Commission for an exchange-traded money tied to the terms of DOGE.
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