Hold onto your chopsticks, folks! The multi-brand Asian food company DDC Enterprise has just snagged 21 shiny bitcoins in a share exchange deal! That’s right, they’re kicking off their grand plan to hoard 5,000 BTC like a squirrel with acorns! 🐿️💰
DDC’s Bitcoin Bonanza Begins!
DDC Enterprise Ltd. (NYSEAM: DDC) has officially completed its first bitcoin acquisition, trading 254,333 Class A ordinary shares for 21 BTC, worth about $2.28 million. That’s a lot of dumplings for just a taste of crypto! 🥟💸
The company is all set to finalize two more transactions in the next few days to grab the remaining 79 BTC, completing the first phase of their bitcoin treasure hunt. DDC aims to collect 500 BTC in six months and a whopping 5,000 BTC by mid-2027, with a team of crypto wizards guiding the way! 🧙♂️✨
Chairwoman and CEO Norma Chu declared this move as a long-term commitment to integrating bitcoin into their financial buffet. “Today is a pivotal moment in DDC’s evolution! As the first female founder of a U.S. publicly traded company to lead a Bitcoin-only treasury strategy, I’m thrilled by the potential this initiative holds for our shareholders!” she exclaimed, probably while doing a little victory dance! 💃🎉
DDC first laid out its bitcoin acquisition plan in a shareholder letter on May 15, right after reporting record financial results for 2024. They boasted a 33% year-over-year revenue increase to $37.4 million and managed to narrow adjusted EBITDA losses to $3.5 million. Not too shabby, huh? 📈😄
Chu described bitcoin as a “store of value” and a hedge against economic chaos, making it the star of their reserve diversification show! As of March 31, 2025, the New York-listed firm held $23.6 million in cash and short-term investments. But wait! On Friday, DDC shares took a nosedive, slipping more than 12% after the news broke. Talk about a rollercoaster ride! 🎢😱
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2025-05-26 01:57