Food Business Buys 21 Bitcoin Amid Growing BTC Treasury Trend, Shares Slide Anyway

DDC Enterprise (DDC), a food company based in Asia, has taken a bold step into cryptocurrency by acquiring 21 bitcoins valued at approximately $2.28 million. This purchase, executed through a transfer of 254,333 class A ordinary shares, marks the beginning of the company’s long-term strategy to integrate Bitcoin into its corporate treasury, according to a company statement.

CEO Norma Chu revealed plans to expand the Bitcoin holdings further, with two additional purchases of 79 BTC expected shortly. The goal is to reach 100 BTC initially, with ambitions to grow to 500 BTC within six months and up to 5,000 BTC over three years.

Despite entering the growing trend of firms embracing Bitcoin as a treasury asset, DDC’s shares experienced a steep decline, falling over 12% in Friday’s session. This drop contrasts with the broader market’s milder downturn, with the S&P 500 and Nasdaq declining 0.6% and 1%, respectively.

In contrast, companies like DigiAsia (FAAS) have seen a surge in investor enthusiasm, with FAAS’s shares jumping more than 90% following the announcement of a $100 million Bitcoin treasury initiative earlier this month.