DDC, a Public Company, Purchases 21 Bitcoins with a Goal of Accumulating 5,000 BTC in Three Years

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DDC Enterprise (DDC), an Asian food company, has announced the acquisition of 21 BTC as part of a long-term plan to incorporate the cryptocurrency into its corporate treasury. The company, led by founder and CEO Norma Chu, exchanged 254,333 class A ordinary shares for BTC, in a transaction valued at roughly $2.28 million, according to a press release. This move positions DDC among a growing cohort of public companies using BTC as a treasury asset. Two more purchases totaling 79 BTC are expected in the coming days, bringing the company's initial holdings to 100 BTC.

In a shareholder letter issued last week, Chu outlined plans to accumulate up to 500 BTC within six months and aim for 5,000 BTC in three years. While companies adopting bitcoin as a strategic treasury asset often see significant price rises, DDC experienced an opposite trend. The company’s shares dropped more than 12% in Friday’s trading session, while the S&P 500 decreased by 0.6% and the tech-heavy Nasdaq fell by 1%. 

In contrast, other firms have experienced considerable gains; for instance, DigiAsia (FAAS) saw its share prices surge more than 90% in a single trading session after announcing a substantial BTC treasury plan earlier this month.

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