Is Bit Origin the Next MicroStrategy for Memes? Explore the Trend!
Bit Origin’s Ambitious Move to Establish a Dogecoin Treasury
Bit Origin’s Strategic Investment in Dogecoin
On July 17, 2025, Bit Origin, a company listed on Nasdaq, announced plans to invest $500 million in creating a treasury for Dogecoin (DOGE). This bold initiative has raised questions about the company’s confidence in the potential of this popular memecoin.
Bit Origin has secured agreements with investors to raise $400 million through the sale of ordinary shares and an additional $100 million via convertible debt. The company aims to become the largest holder of DOGE, anticipating that its share price will increase as it accumulates more DOGE per share. So far, Bit Origin has successfully raised $15 million, primarily earmarked for purchasing DOGE.
One key factor driving Bit Origin’s optimism is Dogecoin’s popularity, particularly among fans of Elon Musk. Speculation suggests that Musk may soon incorporate DOGE as a payment option in his upcoming X Money platform.
Jinghani Jiang, the CEO of Bit Origin, expressed the company’s vision succinctly:
“We believe that Dogecoin’s community and performance make it an ideal candidate for X Money, as Elon Musk works towards his goal of creating a global super-app. In a world filled with unreliable institutions, Dogecoin represents a culture of hope and resilience that transcends traditional political and financial frameworks.”
Despite this enthusiasm, the lack of official confirmation from X regarding DOGE as a payment method introduces an element of uncertainty that could impact Bit Origin’s prospects.
Potential Catalysts for Dogecoin’s Value
In addition to hopes for DOGE’s inclusion in X Money, the potential launch of DOGE-based exchange-traded funds (ETFs) could further elevate the cryptocurrency’s price. The U.S. Securities and Exchange Commission is currently deliberating on applications for spot DOGE ETFs submitted by firms like Bitwise, 21 Shares, and Grayscale.
While Bit Origin is on track to become the largest DOGE treasury and the first publicly traded company to do so, it is not alone in its interest in memecoins. Earlier this year, Freight Technologies announced plans for a $20 million treasury dedicated to a Trump-themed token.
Bit Origin’s Challenging History
Originally based in Singapore, Bit Origin has transitioned from a focus on Bitcoin mining to its current Dogecoin treasury initiative. The company, which was previously known as China Xiangtai Food Co., Ltd., rebranded after experiencing stagnation in its stock price in 2022. Once trading above $120 in 2019, Bit Origin’s stock (BOTG) has plummeted to around $0.70, with only brief rallies in 2020 and 2021. The recent announcement regarding the Dogecoin treasury has provided a temporary boost, raising the stock price from 35 cents to over 70 cents. Given its troubled history, this DOGE venture may be a last-ditch effort to regain relevance.
Dogecoin’s Unique Position in the Cryptocurrency Landscape
Initially launched as a joke, Dogecoin has surprisingly maintained its status as one of the most recognized cryptocurrencies, paving the way for numerous dog-themed alternatives. Tokens like Shiba Inu, BONK, and Floki have emerged, yet Dogecoin remains the most prominent memecoin, ranking 8th in market capitalization with over $36 billion as of July 19, 2025.
With no dedicated team for ongoing development, Dogecoin has evolved into a community-driven project. In its early days, the Dogecoin community rallied to support various charitable causes, including fundraising for sports athletes and victims of a significant hack. Over the years, the coin has garnered endorsements from influential figures such as Vitalik Buterin, Snoop Dogg, Gene Simmons, and Elon Musk. Although the dream of Dogecoin reaching a $1 price point has yet to be realized, Bit Origin’s treasury plans have reignited hopes for a potential rally within the community.
Jinghani Jiang emphasized that Bit Origin aims to embody the community-driven spirit of Dogecoin. In a recent newsletter, Scott Melker, host of The Wolf of All Streets podcast, characterized Bit Origin’s move as indicative of a burgeoning treasury trend in the cryptocurrency market.
