K Wave Media, a South Korean entertainment company, has announced a $500 million securities deal aimed at funding a Bitcoin treasury strategy to become the 'Metaplanet of Korea.' This strategy involves the sale of ordinary shares, and the proceeds will primarily support the firm’s Bitcoin-centric digital asset treasury initiatives, including potential purchases of other cryptocurrencies. The company's stock has seen a significant increase, rising 162% on Nasdaq following this announcement. Ted Kim, the co-interim CEO, emphasized the commitment to decentralization and long-term value creation through Bitcoin integration. Additionally, K Wave Media plans to utilize funds for mergers and acquisitions in its K-POP and content-related businesses while also investing in infrastructure to support Bitcoin's Lightning Network and facilitate on-chain transactions. This move aligns with a broader trend among corporations embracing Bitcoin as a reserve asset, a phenomenon that accelerated after MicroStrategy's initial foray into the space in 2020.

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