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There is a Development That Could Be Important For Dogecoin: Company Allegedly…
There is a Development That Could Be Important For Dogecoin: Company Allegedly Established to Be DOGE’s MicroStrategy
A company has reportedly acquired a major DOGE holding with the aim of becoming Dogecoin’s MicroStrategy. Here are the details.
Author:
Mete Demiralp
08.11.2024 – 17:41
Update:
6 seconds ago
0
Spirit Blockchain Capital, a blockchain technology and digital asset management company, announced that it has acquired Dogecoin Portfolio Holdings Corp (“Dogecoin Holdings”), a firm dedicated to expanding the Dogecoin (DOGE) ecosystem.
Founded in 2013, Dogecoin has grown from a fun “memecoin” into a widely recognized, highly decentralized cryptocurrency with over 6.7 million active addresses and a 2.5 million strong community on the r/dogecoin subreddit.
Spirit aims to leverage the expertise of Dogecoin Holdings to drive global adoption of Dogecoin. Ankr co-founder Chandler Song, who invested in Dogecoin Holdings, will also join as a strategic advisor to support the development of “Dogecoin MicroStrategy” initiatives and expand applications and financial products around Dogecoin.
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“We are excited about the growth opportunities this acquisition brings to Spirit,” said Lewis Bateman, CEO of Spirit Blockchain Capital. “The financial industry is shifting towards decentralized solutions, and blockchain is at the core of this transformation. Acquiring Dogecoin Holdings places us in a strong position to develop innovative financial products that will increase shareholder value and contribute to the future of decentralized finance.”
Ankr co-founder Chandler Song announced that he has invested in Dogecoin Holdings and will serve as a strategic advisor to participate in the establishment of Dogecoin’s MicroStrategy-like company.
Under the agreement, Spirit will purchase all outstanding shares and warrants of Dogecoin Holdings from existing shareholders. In return, Spirit will issue 14 million common shares and 14 million share purchase warrants, each exercisable for two years at $0.05 per share.
*This is not investment advice.
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