The ‘MicroStrategy of Dogecoin’ Launches DOGE Yield Strategy, Eyes Bitcoin and Solana Expansion

A company that adapted MicroStrategy’s Bitcoin reserve strategy with the meme coin Dogecoin has unveiled plans to earn returns on its DOGE coins, with future ambitions to potentially offer products based on other major cryptocurrencies, as investors look for new ways to earn higher returns on their tokens.

Canadian investment company Spirit Blockchain Capital said In a statement on Thursday, it plans to leverage its Dogecoin holdings through the new yield-generating strategy. The listed company said this move will enable it to deliver value to its shareholders, besides increasing the efficiency of its treasury operations and improving the adoption of decentralized financial products.

The initiative will serve as a foundation for the company to launch potential return strategies for other assets such as Bitcoin, Ethereum, Tether And Solana in the future, Spirit CEO Lewis Bateman said in a statement.

“We aim to unlock a previously untapped revenue stream while positioning ourselves as a market leader in generating returns, not only for Dogecoin, but also for the broader digital asset space,” said Bateman.

However, exactly how the company plans to generate returns on its DOGE treasury is unclear, and the company did not respond Declutter‘s requests for comment. Spirit Blockchain Capital has not announced an exact date for the rollout of its yield-bearing strategy.

The company’s announcement comes a few months after it acquired Dogecoin Holdings, a company that collects DOGE as a treasury reserve. Mind before declined to make public the size of his Dogecoin treasury Declutterciting legal guidelines for its acquisition.

Yield-bearing financial instruments such as stablecoins have gained momentum in this latest rally in the crypto market, with several major companies introducing new tokens in recent months to meet skyrocketing investor demand.

Crypto investors can also earn returns on their assets through measures such as staking (or locking assets within a proof-of-stake network to earn interest-like token rewards) or pledging assets to crypto lending services.

Edited by Andrew Hayward