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

Canadian investment firm Spirit Blockchain Capital He said on Thursday in a statement that it intends to leverage its Dogecoin holdings through the new yield-generating strategy. The publicly traded company said the move will enable it to deliver value to its shareholders, as well as expand the efficiency of its treasury and boost the adoption of decentralized financial products.

This initiative will serve as a cornerstone for the company to launch potential return bearing strategies for other assets e.g Bitcoin, Ethereum, pregnancy and Solana Spirit CEO Louis Bateman said in a statement on the future.

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

However, how the company plans to generate a return on its DOGE treasury is unclear, and the company has not responded. DecryptionRequests for comment. Spirit Blockchain Capital has not announced a specific date for implementing its revenue generating strategy.

The company's announcement comes just months after its acquisition of Dogecoin Holdings, a company that collects DOGE as a treasury reserve asset. The soul previously He refused to disclose The size of its Dogecoin vault Decryptionciting regulatory guidelines for the acquisition.

Yield-yielding financial instruments such as stablecoins have gained traction during this recent surge in the cryptocurrency market, with several major companies rolling out new tokens in recent months to meet high demand from investors.

Cryptocurrency investors can also achieve a return on assets through actions such as Staking- Or staking assets within a proof-of-stake network to earn interest-like token rewards - or pledging assets to cryptocurrency lending services.

Modified by Andrew Hayward