Bit Origin Shares Are Trading Higher Friday: What's Going On?

Bit Origin (NASDAQ:BTOG) shares are trading higher Friday on possible continued momentum after the company announced Thursday that it secured $500 million in equity and debt facilities to launch the company’s Dogecoin (CRYPTO: DOGE) treasury strategy.

What To Know: Bit Origin entered into agreements with accredited investors for up to $400 million in Class A ordinary shares and up to $100 million in convertible debt. The company said it has completed an initial closing of $15 million under the debt facility and plans to use a significant portion of the proceeds to acquire Dogecoin.

Bit Origin said the move makes it the first publicly listed company on a major U.S. exchange to accumulate Dogecoin as a core treasury asset.

"Bit Origin is evolving beyond mining infrastructure to engage directly in the value and utility of digital assets," said CEO and Chairman Jinghai Jiang. "What started as a joke has evolved into a globally liquid asset with payments utility."

How To Buy Bit Origin Stock

By now you're likely curious about how to participate in the market for Bit Digital – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Bit Digital, which is trading at $4.11 as of publishing time, $100 would buy you 24.33 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

See Also: Interactive Brokers Stock Is Trading Higher Friday: What’s Going On?

BTOG Price Action: At the time of writing, Bit Origin stock is trading 26.1% higher at 79 cents, according to data from Benzinga Pro.

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