Publicly-Traded DDC Acquires 21 Bitcoin, Aims to Reach 5,000 BTC in 3 Years
DDC Enterprise has announced the acquisition of 21 BTC to incorporate cryptocurrency into its corporate treasury, aspiring to acquire up to 500 BTC within six months and 5,000 BTC in three years. Despite the trend where companies utilizing bitcoin as a treasury asset typically witness share price increases, DDC's shares fell by more than 12% following the announcement. The company exchanged 254,333 class A ordinary shares for the Bitcoin, valued at approximately $2.28 million. This move places DDC alongside a growing number of public companies adopting BTC, yet it sharply contrasts with the market performance of peers who have enjoyed significant gains after similar announcements. DDC plans to add two more purchases, totaling 79 BTC, bringing its initial BTC holdings to 100.
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