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NEW YORK - DDC Enterprise Limited (NYSE:DDC) announced Monday it has acquired an additional 200 bitcoin, bringing its total holdings to 888 BTC, more than double the 368 BTC it held at the beginning of August. The $94 million market cap company maintains a strong balance sheet, with InvestingPro data showing more cash than debt on its books.
This marks the company’s fourth bitcoin purchase this month. DDC, which operates as an Asian food platform with brands including DayDayCook, Nona Lim, and Yai’s Thai, has established bitcoin as a core reserve asset in its treasury strategy.
The company reported its average cost per bitcoin holding is $107,447. According to the announcement, the updated holdings translate to 0.106853 BTC per 1,000 DDC shares.
"Our purchases this month wasn’t just about speed—it was about discipline and conviction," said Norma Chu, Founder, Chairwoman, and CEO of DDC, in the press release statement.
DDC also noted that its bitcoin holdings have seen a 1572% yield increase compared to its first purchase in May.
The company describes itself as being "at the vanguard of public companies integrating Bitcoin into their financial architecture" while continuing to maintain its core business as a food platform.
The information in this article is based on a press release statement from DDC Enterprise Limited.
In other recent news, DDC Enterprise Limited has made significant strides in expanding its Bitcoin holdings and enhancing its treasury management strategies. The company has acquired an additional 100 Bitcoin, increasing its total holdings to 688 BTC, with an average cost per Bitcoin of $104,538. This acquisition is part of DDC’s ongoing Bitcoin treasury strategy, which aims to reach 10,000 BTC by the end of the year. In a related development, DDC has partnered with Galaxy Digital to improve its Bitcoin treasury management, gaining access to institutional trading platforms and services.
Moreover, DDC has collaborated with QCP Group to develop yield enhancement strategies for its Bitcoin holdings, focusing on generating income through derivatives while maintaining security and compliance. To support its Bitcoin strategy, DDC has filed a $500 million universal shelf registration statement with the U.S. Securities and Exchange Commission. This filing follows a capital commitment of up to $528 million, with $53 million already funded by partners including Anson Funds, Animoca Brands, and Kenetic Capital. These developments mark a significant phase in DDC’s financial strategy and partnerships.
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