Neptune Digital Assets Buys 1 Million Dogecoin, Faces 27% Loss

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Blockchain firm Neptune Digital Assets (NDA) announced it purchased 1 million Dogecoin (DOGE) tokens through a “strategic derivative purchase” on December 27. The Vancouver-based company, has seen a significant loss on its investment, as the price of the memecoin has fallen 27% to 27 cents since the purchase. While many companies have made buying bitcoin a strategic goal, Neptune is only the second publicly traded company to invest in the meme-inspired DOGE. Neptune Digital Assets also acquired 20 bitcoin at an average price of $99,833 per coin, bringing its total BTC holdings to 376 coins worth $37.2 million.