Blockchain Company Neptune Digital Assets Integrates DOGE Into Its Bitcoin Strategy.

Neptune Digital Assets Boosts Crypto Holdings with DOGE and BTC Acquisitions

Neptune Digital Assets (NDA), a blockchain-focused firm based in Vancouver, has revealed it acquired 1 million dogecoin (DOGE) tokens in a “strategic derivative purchase” on December 27. Despite the downturn in the value of DOGE, which has dropped 27% to 27 cents since the purchase, Neptune is looking to expand its cryptocurrency portfolio.

In addition to the DOGE tokens, Neptune also purchased 20 bitcoin (BTC) at an average price of $99,833 per coin, increasing its total BTC holdings to 376 coins, valued at $37.2 million.

While many firms have gravitated toward bitcoin investments, Neptune is only the second publicly traded company to invest in dogecoin. Spirit Blockchain (SPIR) made a similar move in November when it acquired a Dogecoin Portfolio Holding, solidifying its role in the DOGE ecosystem.

“We are focused on acquiring additional assets, using our enhanced purchasing power through the Sygnum credit line,” said Neptune’s CEO, Cale Moodie. “With a strong focus on BTC, these initial purchases showcase Neptune’s commitment to growth, while managing risk and debt levels prudently.”

This move by Neptune comes on the heels of Bitwise’s filing with the Securities and Exchange Commission for a DOGE-linked exchange-traded fund, adding to the growing institutional interest in the memecoin.