DDC acquired the publicly exchanged 21 Bitcoin, aimed at reaching 5,000 BTC in 3 years
DDC ENTERPRISE (DDC), AN Asian food companyhas announced the acquisition of 21 BTC as part of a long -term plan to include cryptocurrency in its corporate treasury.
The company, led by founder and CEO Norma Chu, exchanged 254,333 Class A ordinary shares for BTC, in a transaction worth about $ 2.28 million, According to a press release.
DDC transfer positions to a growing cohort of public companies using BTC as a Treasury owner. Two more purchases covering 79 BTC are expected in the coming days, bringing the company’s initial handling at 100 BTC.
In a shareholder letter released last week, Chu outlined plans to accumulate up to 500 BTC in six months and aimed at 5,000 BTC in three years.
While companies that adopt Bitcoin as a strategic owner of Treasury often see major price increases, the DDC has seen the opposite. The company’s sharing dropped by more than 12% in the Friday trading session, while the S&P 500 dropped 0.6% and the Tech-Heavy Nasdaq fell 1%.
Digiasia (FAA), for example, has seen its sharing prices progressing more than 90% in a single trading session after announcing a $ 100 million BTC treasury plan earlier this month.
