The Hong Kong-headquartered Heat-and-Eat that sells the DDC Enterprise has made its first purchase of Bitcoin as part of a plan to buy 5,000 Bitcoin over the next three years.
New York listed on the DDC Enterprise, also known as DaydayCook, said on May 23 that it bought 21 Bitcoin (Btc) in exchange for 254,333 shares in a deal worth $ 2.28 million.
The company added that it plans to buy another 79 BTC throughout the two purchases on “The Coming Days” to bring the total bitcoin stack to 100 BTC.
Purchases are part of the DDC plan announced on May 15 to Get 5,000 BTC Over the next three years, with the aim of buying 500 BTC before the end of 2025.
DDC’s planned 5,000 BTC stack, if held today, will only go outside the top 10 public companies with Bitcoin’s largest hold, which is just placed behind the Japanese Metaplanet investment firm, holding 7,800 BTC, according to Data From the Bitbo.
DDC Enterprise (DDC) shares closed the Session of May 23 by 14.5% but increased 2.43% after the bell to $ 3.79, According to In Google Finance. DDC has dropped more than 27% to this year.
China’s crypto adoption rises
China’s appetite for cryptocurrencies has risen upward in recent months, despite the entire year of the country’s entire ban on crypto transactions.
De -electric vehicle retailer Jiuzi Holdings said on May 22 that the board approved a plan to Buy 1,000 BTC Next year by the release of its company shares and by the direct purchase of Bitcoin.
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Earlier this month, a report indicated Investors with high nets across Asia are moving from US dollar investments to gold, cryptocurrencies, and Chinese -based assets.
Last week, the legal council of Hong Kong passed The Stablecoin Bill, which establishes a clear framework of regulation for stablecoin issues, with institutions that are likely to apply for StableCoin issuance licenses by the end of the year.
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