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

A company that adapted MicroStrategy’s Bitcoin reserve strategy with the Dogecoin coin has revealed plans to generate yield on its DOGE coins, with future ambition 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 intends to leverage its Dogecoin holdings through the new yield-generating strategy. The publicly traded company said the move would enable it to deliver value to its shareholders, in addition to increasing its treasury efficiency and improving the adoption of decentralized financial products.

The initiative will serve as a basis for the company to launch potential yield-generating strategies for other assets such as Bitcoin, Ethereum, Attached And Solana in the future, Spirit CEO Lewis Bateman said in a statement.

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

However, exactly how the company plans to generate return on its DOGE cash is unclear, and the company did not respond to Decrypt» requests for feedback. Spirit Blockchain Capital has not announced an exact date for the deployment of its yield-generating strategy.

The company’s announcement comes a few months after the acquisition of Dogecoin Holdings, a company that aggregates DOGE as a Treasury reserve asset. Spirit before refused to disclose the size of its Dogecoin treasure at Decryptciting regulatory guidelines for its acquisition.

Yielding financial instruments such as stablecoins have gained momentum during this latest crypto market rally, with several major companies rolling out new tokens in recent months to meet extremely high investor demand.

Crypto investors can also earn a return on their assets through measures such as staking– or lock assets in a proof-of-stake network to earn interest-like token rewards – or stake assets in crypto lending services.

Edited by Andrew Hayward