TechFlow, May 24 — According to Business Wire, DDC Enterprise (NYSE: DDC) announced the completion of its initial acquisition of 21 bitcoins (BTC), as part of its strategy to incorporate bitcoin into corporate reserves.
The company exchanged 254,333 shares of DDC Class A common stock issued to an investor group for the 21 BTC, currently valued at approximately $2.2837 million. DDC expects to complete two additional purchases in the coming days to acquire the remaining 79 BTC, bringing the company’s total holdings to 100 BTC upon completion.
Norma Chu, Chairman, Founder, and CEO of DDC, expressed excitement about the significant potential this move brings to shareholders, noting she is the first female founder among U.S.-listed public companies to champion a pure bitcoin reserve strategy. According to a shareholder letter released last week, the company plans to accumulate 500 BTC within six months and reach 5,000 BTC within three years, positioning DDC as a pioneer among NYSE-listed companies adopting such an innovative bitcoin reserve strategy.
