The Blockchain Neptune Digital Assets (NDA) firm said it bought 1 million tokens Dogecoin (Doge) through what the company said it was a “strategic derivative purchase” on December 27.
The company based in Vancouver, Canada, which focuses on cryptocurrency infrastructure and blockchain, has significantly decreased in investment. The memecoin has fallen by 27% to 27 cents from the purchase.
Neptune Digital Assets also acquired 20 Bitcoin (BTC) at an average price of $ 99,833 per currency, which takes its total of BTC holdings to 376 coins for a value of $ 37.2 million.
While many companies have made the purchase of Bitcoin a strategic objection, Neptune is only the second company that quotes in the stock market to invest in the Dux inspired by the meme. The first, Spirit Blockchain (SIG), announced in November that he acquired the Dogecoin portfolio in a movement that made him an important participant in the Doge ecosystem.
“Neptune will acquire additional assets, taking advantage of our improved purchasing power through the Sygnum credit line,” said CEO Cale Moodie in the statement. “With a strong approach to BTC, these initial acquisitions show Neptune’s commitment to their growth strategy while meticulously managing the risk of leverage and debt levels.”
The announcement occurs only one week after the largest Bitwise asset manager presented an S-1 document to the stock exchange and securities commission for a bag listed in the stock market linked to the Doge price.
