This NYSE-Listed Food Company Aims to Stack $1.2 Billion in Bitcoin

Shares of Hong Kong-based digital meals firm DDC Enterprise had been up about 3.5% on Wednesday after it introduced that it had secured a further $124 million in fairness funding to purchase extra Bitcoin. 

NYSE-listed DDC, which was buying and selling slightly below $9 per share, has risen about 105% for the reason that begin of the 12 months, in accordance with Yahoo Finance, with a lot of these good points coming because it began to pursue plans to construct a ten,000 Bitcoin treasury price greater than $1.2 billion at BTC’s present worth. 

PAG Pegasus Fund and Mulana Funding Administration, led the funding spherical with assist from OKG Monetary Providers Restricted, the corporate stated.

“This financing spherical contributes not solely capital, but in addition substantial strategic worth and momentum as we advance DDC’s place as a world chief within the institutional Bitcoin house,” stated DDC’s founder and CEO, Norma Chu.

“We’re proud to welcome PAG Pegasus Fund, OKG, and Mulana as strategic companions and shareholders, representing a few of the most admired names in world finance and digital belongings,” she added. 

“Their funding is a powerful endorsement of our imaginative and prescient and the rising significance of public Bitcoin treasuries.”



DDC Enterprise—or DayDayCook—is a digital platform that shares Asian recipes and cooking tutorials. It pivoted to BTC accumulation amid a prolonged droop in its inventory worth, which dipped under $2 earlier this 12 months. 

DDC stated it had already secured 1,058 BTC price about $130 million at BTC’s latest worth.

Crypto information supplier CoinGecko reveals that the largest digital asset by market cap was unmoved over a 24-hour interval after hitting a brand new all-time excessive on Monday of $126,080. 

DDC is amongst a slew of companies that in latest months have adopted a crypto treasury technique. They’ve adopted the lead of software program agency Technique—previously MicroStrategy—which now focuses on shopping for the cryptocurrency and permitting buyers to get publicity to it by way of its shares.

Firms on the Nasdaq at the moment are shopping for the whole lot from Ethereum and XRP to Solana to get higher returns for shareholders. 

Technique has been a roaring success and is the most important company holder of Bitcoin; buyers purchase its inventory to realize publicity to the asset. Its inventory worth has risen about 1,900% because it adopted this technique in 2020, in accordance with Yahoo Finance. Different BTC treasury companies’ share costs have additionally gained, though a variety of companies have carried out much less effectively, and a few analysts have raised issues concerning the technique.

The Securities and Alternate Fee final week halted buying and selling of Digital promoting agency QMMM Holdings after its inventory boomed by over 2,000% on information of a crypto treasury pivot. 

The regulator stated it was investigating “potential manipulation” of the corporate’s inventory.