This is a company that has adopted MicroStrategy’s Bitcoin reserve strategy. Meme Coin Dogecoin It has revealed plans to profit from its DOGE coin, with ambitions to potentially offer products based on other major cryptocurrencies as investors look for new ways to earn higher returns from the token.
Canadian investment firm Spirit Blockchain Capital said It plans to leverage its Dogecoin holdings through a new yield-generating strategy, it said in a statement Thursday. The listed company said the move will enable it to deliver value to shareholders, in addition to expanding financial efficiency and strengthening the adoption of decentralized financial products.
This plan will serve as a foundation from which the Company can launch potential yield-generating strategies for other assets, including: bitcoin, Ethereum, tether and Solana Spirit CEO Lewis Bateman said in a forthcoming statement:
“We aim to establish ourselves as the market leader in monetization not only for Dogecoin, but the broader digital asset space, while creating previously untapped revenue streams,” Bateman said.
However, it is unclear how exactly the company plans to monetize the DOGE treasury, and the company has not responded. decryptionThis is a request for your opinion. Spirit Blockchain Capital has not announced an exact date for the launch of its yield bearing strategy.
The company’s announcement comes months after it acquired Dogecoin Holdings, a company that has been accumulating DOGE as a treasury reserve asset. previously mental refused to disclose Size of Dogecoin Treasury decryptionCiting regulatory guidance on acquisitions.
Yielding financial instruments such as stablecoins have gained strength in the recent cryptocurrency market rally, with several major companies launching new tokens in recent months to meet high investor demand.
Cryptocurrency investors can also earn returns on their assets through actions such as staking (locking assets within a proof-of-stake network to receive token rewards such as interest) or pledging assets to cryptocurrency lending services.
Editor: Andrew Hayward
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