- Canadian blockchain firm Neptune Digital Assets announced it purchased 20 BTC worth almost $2 million.
- The company also bought Dogecoin, scooping the meme coin on December 27, 2024 at the average price of $0.37 per DOGE.
Neptune Digital Assets, a Canada-based blockchain firm, has announced it added 20 Bitcoin (BTC) to its holdings.
The publicly-traded company, whose operations include Bitcoin mining, staking and blockchain nodes, revealed it acquired the 20 BTC as it expanded its Bitcoin strategy between January 26 and Feb. 3, 2025.
Neptune also buys Dogecoin
According to a press release, Neptune scooped the BTC at the average price of $99,833 per coin. This means the company spent nearly $2 million to buy more of the flagship digital asset. Neptune’s total BTC holdings rose to 376 BTC with this purchase.
Neptune is one of over 60 public companies that can issue debt and use the proceeds to buy BTC. The biggest hodler among these is US-listed MicroStrategy.
Proud to be on this list 💪🏼 https://t.co/U2L2nSHbU0
— Neptune (@NeptuneDAC) November 30, 2024
Dogecoin is the other cryptocurrency to attract the blockchain firm. Per the announcement on Feb 4, the company acquired 1 million DOGE on December 27, 2024 at the average price of $0.37 per token. Neptune said it bought the meme coin via a “strategic derivative purchase.”
“As stated in previous news releases, Neptune will be acquiring additional assets, leveraging our enhanced purchasing power through the Sygnum credit line. With a strong focus on BTC, these initial acquisitions show Neptune’s commitment to its growth strategy while meticulously managing leverage risk and debt levels,” Cale Moodie, Neptune’s chief executive officer, said in a statement.
Both Bitcoin and Dogecoin have experienced sharp volatility in the past few days, with BTC and DOGE plummeting on Monday amid tariffs-driven sell-off across risk assets.
BTC fell to lows of $92k before bouncing to retest resistance above the psychological $100k level. Currently, the benchmark asset trades just above $99,400.
Meanwhile, DOGE slumped to below $0.22 and currently hovers near $0.27.
