Despite ambitious plans to build a Bitcoin treasury, DDC Enterprise’s shares fell sharply, dropping over 12% during Friday’s trading session.
Asian food company DDC Enterprise (DDC) announced the purchase of 21 BTC as part of its long-term strategy to integrate cryptocurrency into its corporate treasury. The acquisition involved exchanging 254,333 class A ordinary shares for Bitcoin, with the transaction valued at approximately $2.28 million, according to a company press release.
This move places DDC alongside a growing number of publicly traded firms adopting Bitcoin as a treasury asset. The company also plans two additional purchases totaling 79 BTC in the coming days, aiming to reach an initial holding of 100 BTC.
In a recent shareholder letter, founder and CEO Norma Chu revealed plans to accumulate up to 500 BTC within six months, targeting 5,000 BTC over the next three years.
While firms that announce Bitcoin treasury acquisitions often experience significant stock price gains, DDC’s shares moved in the opposite direction. The company’s stock declined more than 12% on Friday, in contrast with the S&P 500’s 0.6% drop and Nasdaq’s 1% loss.
By comparison, DigiAsia (FAAS) saw its shares soar over 90% in a single day following the announcement of a $100 million Bitcoin treasury plan earlier this month.
