Penny stock C2 Blockchain (CBLO) has significantly increased its holdings of DOG (DOG) memecoin. According to a recent press release, the company’s treasury now contains over 477 million DOG tokens, up from 406 million. The penny stock claims to be the largest institutional holder of DOG in public markets, with all assets held on the Kraken exchange.
DOG differs from Dogecoin in that it operates directly on Bitcoin's (BTCUSD) blockchain through the Runes protocol, which was launched during the last Bitcoin halving. Unlike most other memecoins, DOG features no insider allocation and generates fees that support Bitcoin miners with each transaction. CEO Levi Jacobson describes this as part of a "long-term accumulation strategy" to build "DOG-backed equity" for public markets.
