A Dogecoin Strategic Reserve? One Company Is Working On it
Spirit Blockchain Capital appears to be positioning itself as a significant player in the Dogecoin (CRYPTO: DOGE) ecosystem, with CEO Lewis Bateman likening the company’s strategy to MicroStrategy‘s high-profile Bitcoin acquisitions.
What Happened: Announced in October and further detailed last week, Spirit’s acquisition of Dogecoin Holdings is part of a broader vision that goes beyond using Dogecoin as a simple treasury asset.
In an interview with Decrypt, Bateman shared that Spirit intends to establish a substantial Dogecoin reserve while also fostering its ecosystem and driving institutional interest.
“We are going to hold a significant balance sheet of Dogecoin over the coming months and coming years,” Bateman said. “But we also want to build out the ecosystem. We want to institutionalize that.”
According to Spirit, Dogecoin Holdings was founded by dedicated Dogecoin advocates, and the acquisition includes assets like a Dogecoin payment gateway, ETF platform technology for Dogecoin, and $383,000 in cash.
The company’s goal is to support the Dogecoin ecosystem by creating products that enable Dogecoin to be more widely used as a payment method.
Dogecoin’s value has surged 104% to $0.32 since …
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