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#DOGE Official Reserve Plan
The Dogecoin Foundation's corporate arm, House of Doge, has initiated the Official Dogecoin Reserve with an initial purchase of 10 million DOGE, valued at approximately $1.8 million.
This strategic move aims to bolster Dogecoin's liquidity and facilitate its adoption as a practical payment method.
The reserve is designed to address transaction processing times, enhancing Dogecoin's usability for everyday transactions. Michael Galloro, a board member-elect of House of Doge, emphasized that maintaining such a reserve bridges the gap between transaction times and real-world usability, making Dogecoin more practical for daily purchases.
This initiative is part of a broader five-year partnership between the Dogecoin Foundation and House of Doge, focusing on the commercialization of Dogecoin. Future plans include forming partnerships with payment processors and offering merchant incentives to further integrate Dogecoin into mainstream payment systems.
By establishing the Official Dogecoin Reserve, the Foundation demonstrates confidence in Dogecoin's potential as a reliable medium of exchange, moving beyond its origins as a meme-based cryptocurrency.