Metavesco Buys Over One Million Dogecoin

Rhea-AI Summary

Metavesco, Inc. (OTC PINK:MVCO) purchased 1,012,998.6 Dogecoin on October 27, 2022, for $78,884.86 at a price of $0.07787 per token. The company anticipates increased Dogecoin activity following Elon Musk's acquisition of Twitter, with Musk being a longstanding advocate for cryptocurrencies. CEO Ryan Schadel emphasized the potential for mainstream crypto transactions under Musk's leadership at Twitter, citing Tesla's acceptance of Dogecoin. Currently, Metavesco has not sold any of its Dogecoin holdings, and future buying or selling is possible.

Positive

• Acquisition of 1,012,998.6 Dogecoin indicates confidence in cryptocurrency market.
• Anticipation of growth in Dogecoin usage due to Elon Musk's influence on Twitter.
• Potential for mainstream adoption of crypto payments.

Negative

• None.

CUMMING, GA / ACCESSWIRE / October 31, 2022 / Metavesco, Inc. (OTC PINK:MVCO) (the "Company"), a leading publicly-traded Web3 enterprise, today disclosed it purchased 1,012.998.6 Dogecoin on October 27. 2022, for a total purchase price of $78,884.86, or .07787 per token including fees.

The Company sees potential for several possible narratives to develop for Dogecoin following Elon Musk's acquisition of Twitter. Musk has long been an advocate for cryptocurrencies, Dogecoin and Bitcoin specifically. An article published by blockworks.co on October 28, 2022, detailed several blockchain related moves that could occur as Musk makes his mark on Twitter.

Ryan Schadel, President and CEO of Metavesco, Inc. commented, "Elon Musk has described Dogecoin as the crypto of the people. As CEO of Twitter, he could really bring crypto payments and transactions mainstream. Tesla already accepts Dogecoin. Dogecoin should be an obvious benefactor with Elon Musk as CEO of Twitter."

Mr. Schadel continued, "Let's not forget, he secured $500 million in financing for the Twitter acquisition from Binance, the world's largest crypto brand. It's pretty easy to connect the dots and see there's potential for development that would benefit Dogecoin and its ecosystem."

Dogecoin is an opensource peer-to-peer digital currency. Learn more about Dogecoin by visiting https://dogecoin.com/.

As of the timing of this press release, the Company has not sold any of the acquired Dogecoin. The Company may, in its own self-interest, purchase additional Dogecoin or sell some or all of its holdings at any time.

About Metavesco

Metavesco is a publicly traded web 3 enterprise. The Company generates income as a liquidity provider on decentralized crypto exchanges and invests in promising NFT projects and virtual land, primarily on EVM protocols.

Safe Harbor Statement

This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is included in the Company's filings on sec.gov.

CONTACT:

info@metavesco.com
(678) 341-5898

SOURCE: Metavesco, Inc.

View source version on accesswire.com:
https://www.accesswire.com/723005/Metavesco-Buys-Over-One-Million-Dogecoin

FAQ

How much Dogecoin did Metavesco purchase on October 27, 2022?

Metavesco purchased 1,012,998.6 Dogecoin for a total of $78,884.86.

What is the price per token Metavesco paid for Dogecoin?

Metavesco paid $0.07787 per Dogecoin token.

How might Elon Musk's Twitter acquisition impact Dogecoin?

Elon Musk's leadership at Twitter could enhance the use of Dogecoin as a mainstream payment method.

Has Metavesco sold any of its Dogecoin holdings as of the press release?

No, Metavesco has not sold any of its acquired Dogecoin as of the press release.

What is Metavesco's focus as a company?

Metavesco focuses on providing liquidity on decentralized exchanges and investing in NFT projects and virtual land.