Blockchain Firm Neptune Digital Assets Adds DOGE to Its Bitcoin Accumulation Strategy

Blockchain Firm Neptune Digital Assets Acquires Dogecoin and Bitcoin

Neptune Digital Assets (NDA), a company focused on cryptocurrency and blockchain infrastructure, has announced the acquisition of 1 million Dogecoin (DOGE) tokens and 20 Bitcoin (BTC).

Dogecoin Purchase

NDA acquired the DOGE tokens through a "strategic derivative purchase" on December 27th. The memecoin has since experienced a decline of 27%, dropping to 27 cents.

Bitcoin Acquisition

The company also purchased 20 BTC at an average price of $99,833 per coin, increasing its total BTC holdings to 376 coins worth approximately $37.2 million.

Industry Participation

Neptune Digital Assets is the second publicly traded firm to invest in DOGE, following Spirit Blockchain's acquisition of Dogecoin Portfolio Holding in November.

Growth Strategy

"We will be acquiring additional assets, leveraging our enhanced purchasing power through the Sygnum credit line," said CEO Cale Moodie. "These initial acquisitions demonstrate Neptune's commitment to its growth strategy."

Exchange-Traded Fund

The NDA announcement follows the filing of an S-1 document by major asset manager Bitwise with the Securities and Exchange Commission for an exchange-traded fund linked to the price of DOGE.