K Wave Media, a South Korean entertainment company, has secured a $500 million securities purchase agreement with Bitcoin Strategic Reserve KWM LLC to fund its Bitcoin-centric crypto treasury strategy. This deal allows the company to sell up to $500 million worth of ordinary shares to support its Bitcoin treasury and working capital needs.
Key Highlights:
- Strategic Move: K Wave Media aims to become the "Metaplanet of Korea" by integrating Bitcoin into its core treasury operations, following Metaplanet Inc.'s successful model that yielded over 4,000% returns in 2024.
- Use of Funds: The company plans to allocate a significant portion of the proceeds to purchase, hold, and optimize Bitcoin, as well as expand its content and K-POP related businesses.
- Stock Performance: K Wave Media's stock has surged 143% following the announcement, with a current market cap of $121.43 million.
- Quote from CEO: "By embedding BTC into our core strategy, we’re reinforcing our commitment to decentralization, agility, and future-facing value creation," said Ted Kim, co-interim CEO of K Wave Media ¹ ² ³.