Canadian Publicly Traded Firm Neptune Acquires 1,000,000 Dogecoin

Leading Canadian blockchain firm Neptune Digital Assets Corp. diversifies its crypto portfolio with its acquisition of Dogecoin (DOGE).  Per a recent announcement, Neptune disclosed that it purchased 1 million DOGE as part of efforts to diversify its crypto portfolio. Notably, the company acquired the DOGE tokens at an average cost of $0.37 per token on December 27, 2024.  It splashed about $370,000 for the acquisition at the time. However, Neptune’s DOGE portfolio is currently valued at $266,600 at the current price of $0.2666 per token. This marks a decline of 27.94% from the initial amount Neptune invested in the firstborn meme coin.  Neptune Grows Its Bitcoin Holdings to 376 BTC  Despite making the investment last year, the move became public knowledge recently after Neptune announced its acquisition of 20 Bitcoin.  Interestingly, Neptune strategically acquired the BTC in one week, from January 26 to February 3, at an average price of $99,833, bringing the total cost to approximately $2 million.  Following its latest acquisition, Neptune now holds 376 BTC, valued at $36.63 million, at the current price of $97,422 per Bitcoin.  Second Publicly Traded Company to Acquire DOGE  Notably, Neptune’s latest investment, especially its 1 million DOGE acquisition, has stirred reactions within the crypto community.  Reacting to the development, VanEck’s Head of Research, Matthew Sigel, referred to the Vancouver-based blockchain firm as the second publicly traded company to purchase DOGE.  https://twitter.com/matthew_sigel/status/1886762050455482736?t=a7cQUdv4yk4VOls6RA_mdQ&s=19 Recall that another publicly traded company, Spirit Blockchain, also made a strategic investment in Dogecoin last year. Interestingly, Spirit is currently planning to grow its DOGE holdings through a $3 million fundraiser.  In the meantime, Neptune's share, which trades on the Toronto Stock Exchange under the ticker NPPTF, is down 1.27% over the past week to $1.55. Meanwhile, the current value maintains a 115% uptick over the past month.  Neptune’s DOGE acquisition comes as several prospective issuers file with the U.S. SEC to launch Dogecoin ETFs in the United States. They include Grayscale, Bitwise, Rex Shares, and Osprey Funds.  Currently, DOGE is changing hands at $0.2666 per token, up 0.47% in the past day.