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#MarketRebound DDC Enterprise Takes a Bold Step into Bitcoin with 21 BTC Purchase In a noteworthy move for the food industry and the cryptocurrency realm alike, Hong Kong-based DDC Enterprise, known for its heat-and-eat meal offerings, has made its inaugural Bitcoin purchase. On May 23, the company announced the acquisition of 21 Bitcoin (BTC) in exchange for 254,333 shares, a transaction valued at approximately $2.28 million. This purchase marks the beginning of DDC’s ambitious plan to accumulate a total of 5,000 BTC over the next three years. The company has set its sights on acquiring an additional 79 BTC in the near future, which would bring its total holdings to 100 BTC. If successful, DDC’s Bitcoin stash would position it just outside the top 10 public companies with the largest Bitcoin holdings, trailing behind Japan’s Metaplanet, which holds 7,800 BTC, according to data from Bitbo. Despite a tumultuous trading day on May 23, where DDC Enterprise shares plummeted by 14.5%, they rebounded slightly after hours, closing at $3.79. This year has been rocky for DDC, with shares down over 27%. The move comes amid a broader trend of rising cryptocurrency adoption in China, despite the country’s stringent ban on crypto transactions. Notably, electric vehicle retailer Jiuzi Holdings recently announced plans to buy 1,000 BTC, reflecting a growing interest among Asian investors in digital assets. As DDC Enterprise embarks on its Bitcoin journey, the implications for both the company and the market at large remain to be seen. The intersection of traditional industries with cryptocurrency could signal a transformative shift in how businesses approach digital currencies.
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BREAKING NEWS Binance won’t list a new token for their community users mining on their Telegram Mini-app called MoonBix They’ve requested that the community should vote for the coin they want to be rewarded with, either Bnb, NotCoin or Dogs. Go to their TG channel and vote now!
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