Bit Origin (BTOG) plans to raise $500 million to launch a Dogecoin treasury, with 20% coming from convertible notes and the rest from equity offerings. BTOG stock has surged over 600% year-to-date. Investors see this move as strategic, positioning Bit Origin as a top Dogecoin holder, potentially boosting demand for its services.

The initial $15 million under the convertible debt agreement shows execution readiness. However, the strategy is speculative due to Dogecoin’s volatility and uncertain utility in payments. BTOG lacks Wall Street analyst coverage, limiting investor insights and creating a credibility gap. The Dogecoin treasury plan alone may not justify buying BTOG shares at current levels.

Read more at Yahoo Finance: This Penny Stock Wants to Become the MicroStrategy of Dogecoin