CleanCore Solutions has now acquired more than 500 million Dogecoin (DOGE), marking the halfway point in its plan to build a 1 billion-token treasury.
Key Takeaways:
- CleanCore has acquired over 500 million DOGE, halfway to its 1 billion-token goal.
- The company aims to position Dogecoin as a strategic reserve asset and payment rail.
- ZONE stock rebounded after a $175M raise, while DOGE gained 23% this week.
The company disclosed on Thursday that it had purchased $130 million worth of DOGE, following a 285.42 million token buy earlier in the week.
CleanCore Aims to Cement DOGE as a Reserve Asset
The rapid accumulation reflects a deliberate strategy to position DOGE as a strategic reserve asset.
“Crossing the 500 million DOGE threshold demonstrates the speed and scale at which ZONE is executing its treasury strategy,” said Marco Margiotta, CleanCore’s chief investment officer and also CEO of House of Doge, a commercial partner of the Dogecoin Foundation.
CleanCore was the first publicly listed firm to announce a formal Dogecoin treasury strategy, working in partnership with both the Dogecoin Foundation and House of Doge.
The company is aiming to complete its 1 billion DOGE target within 30 days. Margiotta said the broader goal is to promote DOGE’s use across payments, tokenization, and global remittance products.
Earlier this month, CleanCore raised $175 million via private placement to fund its DOGE purchases.
The news initially triggered a 60% plunge in ZONE stock, though the company completed the raise by September 5.
As of Thursday’s close, ZONE shares traded at $3.98, before jumping 11.81% in after-hours trading to $4.45. The stock is still up over 200% year-to-date.
DOGE itself has gained nearly 23% over the past week, according to CoinGecko, adding fuel to CleanCore’s aggressive treasury expansion.
Meanwhile, the launch of the Rex-Osprey Doge ETF (DOJE), originally scheduled for Thursday, has been postponed.
Bloomberg ETF analyst Eric Balchunas stated that the fund will now likely go live next week, though an exact date remains unconfirmed.
Strategy Tops Corporate Bitcoin Holdings with 636,505 BTC
Michael Saylor’s Strategy now holds 636,505 BTC, making it the largest corporate holder of Bitcoin by a wide margin.
Bitcoin mining firm MARA Holdings remains in second with 52,477 BTC, after adding 705 BTC in August.
But new entrants are gaining ground. XXI, founded by Strike CEO Jack Mallers, has amassed 43,514 BTC, while the Bitcoin Standard Treasury Company holds 30,021 BTC.
Other major players include crypto exchange Bullish (24,000 BTC), Metaplanet (20,000 BTC), and publicly listed names like Riot Platforms, Trump Media & Technology Group, CleanSpark, and Coinbase.
This wave of accumulation has fueled speculation around a supply shock. With just 5.2% of Bitcoin’s fixed 21 million supply left to be mined, continued corporate demand could drive prices even higher.
Some firms are aiming much higher. Japan’s Metaplanet and U.S.-based Semler Scientific have set targets of 210,000 BTC and 105,000 BTC by 2027, ten to twenty times their current holdings.
Outside the US, 120 public companies now hold Bitcoin. Canada, the UK, Hong Kong, Mexico, South Africa, and Bahrain are among the countries where corporate BTC ownership is growing.
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