According to Chinese blogger and cryptocurrency journalist Colin Wu, Spirit Blockchain Capital has officially finished purchasing Dogecoin Holdings. The original meme cryptocurrency, DOGE, may become more widely used as a result of this.
A blockchain corporation called Dogecoin Portfolio Holdings Corp. is involved in the management and development of new Dogecoin-related assets. Following the acquisition of Dogecoin Holdings, Spirit Blockchain plans to develop new products based on DOGE and broaden Dogecoin’s presence in the decentralised finance (DeFi) space by leveraging DOGE’s widespread appeal, particularly among prominent influencers and the Dogecoin community.
An original group of businesspeople and proponents of the biggest meme cryptocurrency founded Dogecoin Holdings. This strategic purchase aims to draw in institutional as well as retail investors. Additionally, it seeks to increase DOGE’s usefulness and accessibility globally. With a market valuation of $28.9 billion, Dogecoin has just risen to the top 10 cryptocurrency list, partly due to Elon Musk’s backing.
Spirit Blockchain will buy all of Dogecoin Holdings’ issued securities from the company’s owners as part of the buyout deal. In return, Spirit will issue 14,000,000 common shares and the equal number of share purchase rights to help integrate Spirit’s business and assets with those of Dogecoin Holdings. For the owners of both businesses, this will also contribute to long-term wealth creation.
The arrangement was first made public in October. According to Colin Wu’s X post, the purchase has now been finalised.
