Neptune Digital Assets Corp. Diversifies Its Crypto Portfolio with Dogecoin (DOGE) Acquisition

Leading Canadian blockchain firm Neptune Digital Assets Corp. diversifies its crypto portfolio with its acquisition of Dogecoin (DOGE).

Leading Canadian blockchain firm Neptune Digital Assets Corp. (TSXV:NDA, OTCQB:NPPTF) is diversifying its cryptocurrency portfolio with the acquisition of Dogecoin (CRYPTO: DOGE).

According to a recent announcement, Neptune disclosed that it purchased 1 million DOGE tokens as part of its efforts to diversify its digital asset portfolio. Notably, the company acquired the DOGE tokens at an average cost of $0.37 per token on December 27, 2024.

The company splashed out about $370,000 for the acquisition at the time. However, Neptune's DOGE portfolio is currently valued at $266,600 at the current price of $0.2666 per token. This marks a decline of 27.94% from the initial amount Neptune invested in the firstborn meme coin.

Neptune Grows Its Bitcoin Holdings to 376 BTC

Although the investment was made last year, the move became public knowledge recently after Neptune announced its acquisition of 20 Bitcoin (CRYPTO: BTC).

Interestingly, Neptune strategically acquired the BTC in one week, from January 26 to February 3, at an average price of $99,833, bringing the total cost to approximately $2 million.

Following its latest acquisition, Neptune now holds 376 BTC, valued at $36.63 million, at the current price of $97,422 per Bitcoin.

Second Publicly Traded Company to Acquire DOGE

As expected, Neptune's latest investment, especially its 1 million DOGE acquisition, has stirred reactions within the crypto community.

Reacting to the development, VanEck's Head of Research, Matthew Sigel, highlighted the Vancouver-based blockchain firm as the second publicly traded company to purchase DOGE.

“Neptune (NDA CN, $300M mkt cap) Becomes Only the Second Publicly Traded Company to Buy $DOGE pic.twitter.com/I1aTRYH0NE”

It's worth noting that another publicly traded company, Spirit Blockchain, also made a strategic investment in Dogecoin last year. Interestingly, Spirit is currently planning to grow its DOGE holdings through a $3 million fundraise.

In the meantime, Neptune's share, which trades on the Toronto Stock Exchange under the ticker NPPTF, is down 1.27% over the past week to $1.55. Meanwhile, the current value maintains a 115% uptick over the past month.

Neptune's DOGE acquisition comes as several prospective issuers are filing with the U.S. SEC to launch Dogecoin ETFs in the United States, including Grayscale, Bitwise, Rex Shares, and Osprey Funds.

Currently, DOGE is changing hands at $0.2666 per token, up 0.47% in the past day.