Hong Kong-based food brand DDC Enterprise Limited has completed its $528 million funding and has built up Bitcoin Treasury. I said in a statement on Tuesday. This is one of the list of companies that have adopted the Software Enterprise Strategy Cryptographic Stacking Playbook.
The company, which trades on NYSE American, has conducted three securities sales to raise capital. Crypto-Native Firms Anson Funds, Animoca Brands and Kenetic Capital participated in the fundraising effort.
The company secured $26 million in private equity finance and $25 million from the Convertible Note. DDC Enterprise raised $2 million through private placements and added $200 million in shares.
“This capital commitment of up to $528 million marks a basin moment for DDC,” Norma Chu, CEO and founder of DDC Enterprises, said in a statement. “We believe we have the unprecedented ability to build one of the world’s most valuable Bitcoin Treasury ministries and carry out our mission to become the top global Bitcoin holder.”
The company launched its Bitcoin financial strategy earlier this year, accumulating 138 BTC on June 12th for each press release. DDC acquired Bitcoin at an average price of $78,582 per coin, well below the current BTC price of $105,693.
DDC will accumulate more Bitcoin while continuing to run its main convenience food business. The company owns a global brand that offers ready-to-eat meals and other packaged, convenient foods inspired by Asian culinary traditions. Its portfolio includes Thai Sauce Company Omsom, Thai American food brand Yai’s Thai, and Nonalimah, an Asian-style noodles and soup line. The company also operates DaydayCook, a recipe sharing platform.
Company shares have been receivedAccording to Yahoo Finance data, it has been trading at $10.59, down almost 3% in the last 24 hours.
DDC Enterprise’s efforts to raise more than $5 billion to increase Bitcoin’s Treasury Department are due to many stock trading companies following the crypto-centric playbook of strategy. The company founded by Michael Saylor began purchasing the world’s oldest cryptocurrency in 2020. Since then, it has accumulated over $63 billion in Bitcoin.
Over 140 public companies hold Bitcoin total worth $90.9 billion based on current prices. data From bitcointreasuries.net.
The adoption of the financial model of their strategy has captured steam over the past year, particularly after Bitcoin set sail to a new all-time high-price market this year at $100,000.
Edited by Andrew Hayward
