You Won’t Believe What K Wave Media’s Doing with Bitcoin!

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So here’s the deal:

  • South Korea’s K Wave Media has jumped onto the corporate Bitcoin bandwagon (because why not?)
  • They’re selling $500 million in stock to buy Bitcoin. Yeah, $500 MILLION. Is that a joke? Nope.
  • Shares have shot up by 155%—because apparently, the world loves crypto and they can’t get enough.

So K Wave Media Inc. (KWM) — the first Korean media company to get itself listed on Nasdaq, by the way — has just announced plans to raise up to $500 million in stock sales to… buy Bitcoin. No, this isn’t a fever dream. They’re doing it for real. They’re basically betting everything on cryptocurrency. I mean, what’s the worst that could happen, right?

In a statement that totally sounds like it was written by a robot, K Wave said: “We want to be the ‘Metaplanet of Korea.’ Because, why not? Who doesn’t want a Metaplanet?” They go on to say their plan is to combine public market access with this totally ‘groundbreaking’ Bitcoin treasury strategy, and that it’ll totally ‘resonate with investors’ — you know, those investors who have no idea what the heck’s going on but just want to ride the hype train.

And they’re not just hoarding Bitcoin, no, no, no. They’re also planning to run Lightning Network nodes and invest in Bitcoin infrastructure for, get this, yield optimization and decentralized transaction rewards. Whatever that means. Do they even know what it means? It’s all part of their grand vision to… make some money, I guess? Or maybe create the next crypto utopia. Could be either.

Oh, and by the way, their stock is up 155% in premarket trading. Is anyone really surprised? It’s Bitcoin, people, it’s the new gold. Forget about actually running a media company. Let’s just throw all our eggs into a volatile basket and see what happens!

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2025-06-04 16:32