TLDR
DDC Enterprise bought 21 Bitcoin for $2.28 million by exchanging 254,333 shares on May 23
The company plans to acquire 5,000 Bitcoin over the next three years, starting with 500 BTC by end of 2025
DDC will purchase another 79 Bitcoin in the coming days to reach 100 BTC total
The stock fell 14.5% on May 23 but recovered 2.43% after trading hours to $3.79
If DDC reaches its 5,000 Bitcoin target, it would rank just outside the top 10 public companies by Bitcoin holdings
DDC Enterprise made its first Bitcoin purchase on May 23, buying 21 BTC for $2.28 million. The Hong Kong-based company, also known as DayDayCook, is listed on the New York stock exchange.
The company exchanged 254,333 shares for the Bitcoin purchase. This represents the first step in a larger cryptocurrency acquisition strategy.
DDC plans to buy another 79 Bitcoin in the coming days. This would bring the company’s total Bitcoin holdings to 100 BTC.
The purchases are part of a three-year plan announced on May 15. DDC aims to acquire 5,000 Bitcoin over this period.
Corporate Bitcoin Strategy
The company has set a goal of purchasing 500 Bitcoin before the end of 2025. This represents the first phase of their broader acquisition plan.
If DDC reaches its target of 5,000 Bitcoin, it would rank just outside the top 10 public companies by Bitcoin holdings. The company would sit behind Japanese investment firm Metaplanet, which currently holds 7,800 BTC.
DDC Enterprise operates in the heat-and-eat meal industry. The company is headquartered in Hong Kong but trades on US markets.
The stock price fell 14.5% during the May 23 trading session. However, shares recovered after hours, rising 2.43% to $3.79.
DDC stock is down over 27% year-to-date. The company’s Bitcoin announcement came during this period of stock price decline.
Growing Asian Crypto Adoption
DDC’s Bitcoin purchase follows similar moves by other Asian companies. Chinese electric vehicle retailer Jiuzi Holdings approved a plan on May 22 to purchase 1,000 BTC over the next year.
High-net-worth investors across Asia are shifting away from US dollar investments. A recent report shows these investors are moving toward gold, cryptocurrencies, and Chinese assets.
Hong Kong’s Legislative Council passed the Stablecoin Bill last week. This creates a regulatory framework for stablecoin issuers in the region.
Institutions may be able to apply for stablecoin issuance licenses by the end of this year. The regulatory clarity supports growing cryptocurrency adoption in Hong Kong.
China maintains a total ban on crypto transactions despite growing interest from companies. Several Chinese firms have made Bitcoin purchases in recent months.
The trend shows corporate interest in Bitcoin continues to grow across Asia. DDC’s purchase represents another example of this regional adoption pattern.
DDC Enterprise plans to complete its next Bitcoin purchases in the coming days to reach 100 BTC total.
The post DDC Enterprise (DDC) Price: Hong Kong Company Purchases 21 Bitcoin as Part of 5,000 BTC Acquisition Plan appeared first on Blockonomi.
