South Korean entertainment company K Wave Media is making a massive move into Bitcoin by signing a securities purchase agreement worth up to $500 million. The funds will support its new Bitcoin-focused treasury strategy, marking a significant shift in how the company manages its financial assets.

According to a June 4 announcement, K Wave struck the deal with Bitcoin Strategic Reserve KWM to issue up to $500 million in ordinary shares. The goal is to allocate a major share of the proceeds toward long-term Bitcoin purchases, yield optimization, and crypto infrastructure development.

Co-interim CEO Ted Kim stated that integrating Bitcoin aligns with K Wave Media’s vision of decentralization and forward-thinking value creation. The company also expressed ambitions to become the "Metaplanet of Korea," referencing the Japanese firm whose stock soared after adopting a similar Bitcoin-centric approach inspired by MicroStrategy.

Beyond Bitcoin accumulation, K Wave plans to use the funds for mergers and acquisitions to expand its K-pop and content businesses. However, Bitcoin remains the central focus of the initiative. The company will also invest in running Bitcoin Lightning Network nodes and developing blockchain infrastructure to support on-chain rewards and decentralization.

This move places K Wave Media among a growing list of public companies in Asia embracing Bitcoin as a corporate reserve asset. The trend began with MicroStrategy in the U.S. and has increasingly gained traction in the region, with firms like Metaplanet leading the charge.

K Wave Media’s bold decision signals that more non-financial companies in Asia may soon follow, reshaping how traditional industries view and utilize digital assets.