3 weeks ago
DDC Enterprise (DDC), an Asian nutrient company, has announced the acquisition of 21 BTC arsenic portion of a semipermanent program to incorporated the cryptocurrency into its firm treasury.
The company, led by laminitis and CEO Norma Chu, exchanged 254,333 people A mean shares for BTC, successful a transaction valued astatine astir $2.28 million, according to a property release.
The determination positions DDC among a increasing cohort of nationalist companies utilizing BTC arsenic a treasury asset. Two much purchases totaling 79 BTC are expected successful the coming days, bringing the company's archetypal holdings to 100 BTC.
In a shareholder missive issued past week, Chu outlined plans to accumulate up to 500 BTC wrong six months and purpose for 5,000 BTC successful 3 years.
While companies adopting bitcoin arsenic a strategical treasury plus often spot large terms rises, DDC saw the opposite. The company’s shares dropped much than 12% connected Friday’s trading session, portion the S&P 500 dropped 0.6% and the tech-heavy Nasdaq fell 1%.
DigiAsia (FAAS), for example, saw its stock prices surge much than 90% successful a azygous trading league aft announcing a $100 cardinal BTC treasury program earlier this month.
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