A publicly traded Canadian cryptocurrency company has purchased more than $250,000 in Dogecoin, joining a growing list of firms that have loaded up their balance sheets with leading cryptocurrencies in recent months.
Neptune Digital Assets—a firm focused on amassing and staking crypto assets—bought 1 million DOGE, worth nearly $258,000 as of this writing, on December 27, the company said Tuesday in a statement. On the date of purchase, that tally would’ve been valued at more than $300,000.
Its purchase comes as some firms are beginning to emulate leading corporate Bitcoin buyer MicroStrategy, but with a twist—filling their reserves not just with Bitcoin, but with more volatile cryptocurrencies amid a surging altcoin market.
The Vancouver-based company said in a statement that it bought 1 million Dogecoin through a strategic derivative purchase at an average price of $0.37 per token.
Go to Source to See Full Article
Author: Liz Napolitano
