Bit Origin Raises $500M for Dogecoin Treasury as DOGE Surges

Published: 2025-07-20 18:18:37 |

Nasdaq-listed Bit Origin plans to raise $500 million—$400 million through ordinary shares and $100 million via convertible debt—to establish what it calls the largest Dogecoin treasury. The Singapore-based firm has already secured $15 million in commitments and aims to boost its share price by increasing Dogecoin holdings per share. CEO Jinghani Jiang cites Elon Musk’s support for Dogecoin and anticipates integration with the X Money payment platform, though X has yet to confirm any plans. Modeled after MicroStrategy’s Bitcoin strategy, the move carries risk: Bit Origin’s stock fell from $120 in 2019 to $0.70 before jumping on the treasury announcement. The Dogecoin treasury news coincided with a 26% weekly rally in DOGE, breaking a cup-and-handle pattern above $0.25 and trading near $0.251. Key resistance levels lie at $0.264 and $0.32, while a tenfold surge to $2.50 remains unlikely without catalysts such as SEC-approved spot Dogecoin ETFs from Bitwise, 21Shares or Grayscale, or broader merchant adoption. Meanwhile, memecoin volatility has driven demand for the Remittix (RTX) presale, which has raised $16.6 million by selling 559 million RTX tokens at $0.0842 each. Remittix offers real-world payments, a cross-chain API for BTC, ETH and SOL, and staking pools yielding 12–18% APY, with planned merchant integrations in Southeast Asia and Africa.

Bullish

Bit Origin’s $500 million fundraising plan to build a Dogecoin treasury directly boosts demand for DOGE by allocating share and debt proceeds into the token, echoing MicroStrategy’s successful Bitcoin strategy. The announcement has coincided with a 26% weekly rally in DOGE, supported by technical breakout and rising optimism around spot Dogecoin ETFs. Robust participation in the Remittix presale further underscores renewed trader appetite for memecoins. While ultimate upside hinges on SEC approval of spot DOGE ETFs and broader merchant adoption, the combination of treasury accumulation, strong price momentum and ETF catalysts points to a bullish outlook for DOGE in both the short and medium term.