The "counterattack" of micro-cap stocks: Bit Origin bets 500 million US dollars on DOGE

On July 17, 2025, Nasdaq-listed company Bit Origin (BTOG) announced that it will raise $500 million to establish an enterprise-level Dogecoin (DOGE) reserve. This micro-cap company, primarily focused on cryptocurrency mining, has already completed its first round of financing of $15 million. In the announcement, Bit Origin's CEO Jinghai Jiang stated: "Dogecoin was initially a joke, but now, its payment efficiency, global liquidity, and cultural symbolic value are being re-evaluated." Bit Origin announced that it has signed an agreement with qualified investors to raise $500 million through stock and convertible bond issuance. The first $15 million has been completed, with the core goal of establishing a large-scale enterprise-level Dogecoin asset reserve and expanding the DOGE ecosystem. According to the plan, Bit Origin will explore a series of businesses around DOGE: - Infrastructure services for miners - Development and promotion of DOGE payment applications - Broader DOGE ecosystem "value generation" projects Bit Origin's strategic announcement comes at a time of significant market dynamics. As a micro-cap company with a market value of less than $50 million, adopting Dogecoin as a core strategic asset can quickly attract market attention and enhance visibility. The announcement coincides with a crypto market surge, benefiting from Bitcoin's rise, favorable macroeconomic data, and increased ETF approval expectations for Dogecoin. Following the announcement, Bit Origin's stock price soared over 90% to $0.63, with market capitalization rapidly expanding from $23 million to $37.42 million. Dogecoin, born in 2013, has undergone three "breakthrough" transformations: - 2018: Reddit community developed it as a "tipping currency" - 2021: Musk's promotion sparked initial institutional interest - 2024: X platform payment scene testing Enterprises and institutions are re-examining DOGE based on: - Fast transaction speed and low fees - Strong community consensus - High liquidity - Clearer regulatory prospects - Potential integration into "super app" ecosystems As a meme coin enters corporate balance sheets, we might need to reconsider how "value storage" is defined in the digital age.