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Dogecoin’s Shiba Inu mascot is racing into the spotlight once again. The meme-inspired cryptocurrency will be prominently displayed on Devlin DeFrancesco’s IndyCar at the Indianapolis 500, one of America’s most-watched motorsport events.

The initiative is backed by a partnership involving the Dogecoin Foundation, House of Doge, Rahal Letterman Lanigan Racing, and the driver himself.

Dogecoin Returns to the Track at Indy 500 With Charity-Fueled Campaign

In the weeks leading up to the race, Dogecoin supporters selected the car’s final livery through a community vote, choosing from three DOGE-themed designs.

The winning look, called Blaze, will feature prominently on both the vehicle and the driver’s helmet.

Although DeFrancesco has yet to crack the top 10 at the Indy 500—his best finish was 13th in 2023—he remains a fan favorite. His odds of winning this year sit below 1%, according to crypto-based prediction market Polymarket.

Still, the campaign’s real traction may come off the track.

A fundraising initiative linked to the Dogecoin sponsorship has raised 117,947 DOGE, or roughly $26,000, for Riley Children’s Foundation.

The organization supports Riley Children’s Health, one of the top neonatology centers in the United States.

NFL Pro Bowler Dion Dawkins added to the momentum with an 8,000 DOGE donation from a self-custodial wallet created during the race weekend.

The donations will support intensive care treatment for newborns with complex medical conditions.

Following the race, DeFrancesco plans to auction off his Dogecoin-themed helmet, with proceeds also going to Riley Children’s Hospital.

Notably, the driver once spent four months in an incubator at Sunnybrook Hospital in downtown Toronto.

Meanwhile, this isn’t Dogecoin’s first motorsport sponsorship. The crypto community previously funded a NASCAR car in 2014 and backed another entry in 2021.

Now, its presence at the Indy 500 marks a renewed effort to combine digital currency fandom with real-world impact.

Essentially, this Dogecoin campaign underscores crypto’s growing visibility in professional sports.

Last year, Polkadot’s branding appeared on Conor Daly’s IndyCar, and several major teams across leagues have adopted crypto payments and sponsorships.

The post Dogecoin Hits Indy 500 Track With $26,000 Charity for Children Hospital appeared first on BeInCrypto.

Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee to see what analysts say about Bitcoin amid the showdown between BTC behemoth Strategy (formerly MicroStrategy) and Jack Mallers’ investment firm, 21 Capital. With their Bitcoin models coming into question, is there a specific definition of what winning means in Bitcoin?

Strategy Grows Bitcoin Stockpile, Buys $1.42 Billion in BTC

Strategy announced that it recently purchased another 15,355 BTC worth approximately $1.42 billion at an average price of $92,737 last week.

The firm currently holds 553,555 BTC, valued at approximately $52.7 billion. The average buying price is $68,459, and the unrealized profit is $14.8 billion.

“By continuing to grow its Bitcoin holdings, the company maintains its status as a major force in the cryptocurrency market, drawing interest from investors and industry analysts. Strategy is the largest Bitcoin Treasury Company, an independent, publicly traded business intelligence company, and a Nasdaq 100 stock,” Phoenix reported.

Meanwhile, as Strategy accelerates its Bitcoin buying spree, 21 Capital is starting a ‘viral effect’ where companies are turning to BTC accumulation. 

A recent US Crypto News publication highlighted the advent of 21 Capital. The Bitcoin investment firm sprouted after Cantor Fitzgerald, SoftBank, Tether, and Bitfinex pooled $3 billion in capital.

Based on sentiment, this new venture could inadvertently challenge Strategy’s position at the helm of corporate Bitcoin ownership in a model sense. According to 21 Capital, Strategy size could make increasing its Bitcoin per share difficult, a metric investors tend to consider.

Amid chatter that 21 Capital could threaten the Michael Saylor-led firm, BitStrategy, a shareholder at Strategy, challenged the prospective market rival’s business model.

Tension Grows in Bitcoin Treasury Space

In a detailed post on X (Twitter), BitStrategy acknowledged the brewing tension in the Bitcoin treasury arena. However, it holds that Strategy is way ahead of the competition.

“Their company is in direct competition with ours, and they seek to exploit a perceived vulnerability in our structure, openly highlighting their strengths relative to ours to win investment,” BitStrategy challenged in a recent post.

Beyond BTC Yield, also reported in a recent US Crypto News publication, the firm initiated key performance indicators months ago- BTC Gain and BTC $ Gain.

• Bitcoin Gain multiplies the BTC Yield by Strategy’s aggregate balance, reflecting the scale of the firm’s operations.
• Bitcoin $ Gain takes this further, converting the BTC Gain into dollar terms, for added transparency.

This proactivity by Strategy suggests a commitment to defend its position as a leading Bitcoin-holding corporation amidst rising rivals.

“You can fake an impressive BTC Yield. You cannot fake an impressive BTC Gain,” BitStrategy chimed.

However, analyst KenjiKoshu argues that while Strategy may show substantial Bitcoin gains, smaller companies like 21 Capital could achieve higher Bitcoin per share.

“As someone who has done deep thinking about why MSTR is undervalued, it might be true BTC gain can still be substantial if not higher for MSTR. On a per-share basis, however, which would be what supports the stock; it will be hard to deny a smaller, similarly reputable company is going to make more Bitcoin per share when on the same strategy,” the analyst wrote.

This outlook aligns with sentiment from 21 Capital that Strategy’s large size impedes increasing its Bitcoin per share.

However, BitStrategy articulated that the point of BTC Gain and BTC $ Gain signals the importance of a whole-of-company view of performance relative to a per-share view.

Per the shareholder, there is no agreed-upon conventional valuation methodology for Bitcoin companies. This means any metric is somewhat arbitrary.

Amidst this confusion, BeInCrypto contacted Max Keiser, the Bitcoin pioneer who aided El Salvador’s adoption of Bitcoin.

“For corporations to survive, they must mimic the Strategy’s process, they must ‘Saylorize’ or die,” Keiser told BeInCrypto.

According to Keiser, the world is moving to a Bitcoin Standard, and all fiat money, even with stablecoins propping them up, is doomed.

Chart of the Day

Byte-Sized Alpha

• Bitcoin is nearing $95,700, driven by extreme greed and high optimism in social media sentiment.
• Investors increasingly turn to digital assets as a safe haven, with Bitcoin becoming a hedge against the US dollar’s volatility as crypto inflows surge to $3.4 billion.
• Ethereum’s new proposal could propel TPS to 2,000, suggesting a deterministic, exponential growth plan to gradually raise the gas limit.
• Bitwise CEO says institutional investors are driving the current Bitcoin rally, not FOMO. He says this explains why Bitcoin search volume on Google Trends has dropped sharply.
• The approval of ProShares’ XRP futures ETF sparks optimism, with predictions that a spot ETF could follow, potentially attracting $100 billion to XRP.
• Three crypto airdrop opportunities this week will offer investors early entry into projects with high growth potential, inspired by notable financial backing.
• New XRP address creation hits a two-week high at 3,677, signaling growing investor confidence and fresh market capitalization.
• World Liberty Financial founders and Changpeng Zhao met in Abu Dhabi to discuss standardizing the crypto industry and boosting global adoption efforts.

Crypto Equities Pre-Market Overview

The post Strategy Scoops Up 15,355 Bitcoin as Max Keiser Declares Corporations Must ‘Saylorize’ To Survive | US Crypto News appeared first on BeInCrypto.