Dogecoin News Today: Bit Origin Plans $500 Million Dogecoin Treasury, Stock Jumps 100%

On July 17, 2025, Nasdaq-traded company Bit Origin announced an ambitious plan to spend $500 million to establish a Dogecoin treasury, aiming to become the largest holder of the memecoin. The company has already secured $15 million from investors, with the majority of this capital earmarked for purchasing Dogecoin. Bit Origin's strategy involves selling $400 million worth of ordinary shares and $100 million worth of convertible debt to fund this initiative. The company believes that increasing the Dogecoin per share ratio will drive long-term appreciation in its share price, mirroring the strategy employed by MicroStrategy with Bitcoin.

Bit Origin's confidence in Dogecoin is bolstered by the memecoin's association with Elon Musk, who has publicly expressed his fondness for Dogecoin. Fans speculate that Musk may integrate Dogecoin as a payment method in his upcoming X Money payment tool. Jinghani Jiang, CEO of Bit Origin, highlighted the potential alignment between Dogecoin's community and Musk's vision for X as a global super-app, emphasizing the memecoin's cultural significance and resilience.

However, the uncertainty surrounding X's confirmation of Dogecoin as a payment method casts a shadow over Bit Origin's plans. Additionally, the U.S. Securities and Exchange Commission has yet to decide on the approval of Dogecoin-based exchange-traded funds, which could further boost the memecoin's price. Bitwise, 21 Shares, and Grayscale are among the companies awaiting this decision, having filed for the launch of spot Dogecoin ETFs.

Bit Origin is not the first corporation to invest in memecoins. In May, Freight Technologies announced the creation of a $20 million Trump token treasury. Despite this, Bit Origin has a strong chance of becoming the most extensive Dogecoin treasury and the first public company to establish one. The company's background is marked by a transition from an agricultural enterprise to a Bitcoin mining ecosystem builder, and later to a Dogecoin-focused entity. This shift came after the stagnation of its stock price in 2022, with the company's stock price falling from over $120 in 2019 to a mere $0.70 as of July 19, 2025. The recent announcement of the Dogecoin treasury plans has helped push the price from 35 cents to above 70 cents, indicating a potential last resort to revitalize the company's significance.

Dogecoin, initially launched as a parody cryptocurrency, has managed to remain one of the most popular and recognizable memecoins. It has paved the way for various dog-themed projects, including Shiba Inu, BONK, and Floki, all of which are among the top 100 cryptocurrencies by market capitalization. As of July 19, 2025, Dogecoin occupies the 8th position with a market cap of over $36 billion. The memecoin's community-driven nature and support from notable figures such as Elon Musk have contributed to its enduring popularity. Bit Origin's move to establish a Dogecoin treasury has reignited the community's anticipation for a potential rally in the memecoin's price.