💰 A Turn in China! DayDayCook brand plans to accumulate 5,000 #bitcoin .
DDC Enterprise (DayDayCook), a consumer brand with roots in Hong Kong and operations in mainland China 🇨🇳, announces a Bitcoin (BTC) ₿ reserve strategy.
CEO Norma Chu informed in a letter to shareholders that DDC has already acquired 100 BTC (~$10.4 million) and plans to accumulate 5,000 $BTC in the next 36 months, with a target of 500 BTC by the end of 2025 🎯.
This announcement comes after a 33% increase in DDC's revenue in 2024, reaching ¥273.3 million ($37.4 million) 📈.
Surprisingly, DDC's documents submitted to the SEC do not explicitly mention its Bitcoin holdings or the reserve strategy 🤔. Chu emphasized that this is a "pioneering initiative" to position DDC at the forefront of innovation in crypto assets 🚀.
DDC's annual report does mention the evaluation of strategies for future financing and the intention to diversify income 💡, in addition to referring to the FASB's crypto asset disclosure guidelines 📄.
This move by a company with operations in mainland China, a country with severe crypto restrictions since 2021 🚫, raises speculation about a possible shift towards the adoption of crypto assets 🤔. Some believe that China could lift its ban, influenced by the adoption in Hong Kong and the pro-crypto stance of the U.S. under Trump ❓. However, analysts question this possibility, although China remains a significant player in Bitcoin mining despite the ban ⛏️.
Cointelegraph reached out to DDC for more details but did not receive a response 📞.
Do you think this move by DayDayCook is a sign of a change in China's stance towards cryptocurrencies? 🤔 Will DDC achieve its goal of accumulating 5,000 #BTC ?
#BinancePizza #BinanceTGEAlayaAI #EthereumSecurityInitiative
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