DDC Enterprise (DDC) Acquires 21 BTC as Part of Long-Term Treasury Plan

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

DDC Enterprise (CVE: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, founded and CEO’d by 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.

The move positions DDC among a growing cohort of public companies now 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 highlighted plans to accumulate up to 500 BTC within six months and aim for 5,000 BTC in three years.

"We believe that this move will not only provide a hedge against inflation but also generate significant returns for our shareholders," Chu stated.

The company also noted the importance of diversifying its investment portfolio, especially in light of the current economic climate.

However, while companies adopting bitcoin often see major price rises, DDC saw the opposite. The company’s shares dropped more than 12% in Friday’s trading session, while the S&P 500 dropped 0.6% and the tech-heavy Nasdaq fell 1%.

DigiAsia (FAAS) for example, saw its share prices surge more than 90% in a single trading session after announcing a $100 million BTC treasury plan earlier this month.