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XIAMEN, China - POP Culture Group Co., Ltd. (NASDAQ:CPOP), a $128.5 million market cap company currently rated as overvalued according to InvestingPro analysis, announced Thursday it has completed a $33 million investment in Bitcoin, acquiring 300 BTC as part of its digital asset strategy.
The company is also establishing a diversified cryptocurrency fund pool that will focus on assets including Bitcoin, Ethereum, and BOT. According to the press release, the fund will target promising cryptocurrencies in the Web3 entertainment sector, projects with growth potential, and initiatives aligned with the company’s business strategy.
"Our strategic cryptocurrency investment marks the beginning of a vision to build not only a pan-entertainment platform, but a global Web3 pan-entertainment super ecosystem," said Huang Zhuoqin, CEO of POP Culture Group, in a statement. The company has shown remarkable growth, with revenue surging 108% in the last twelve months and its stock price climbing over 154% in the past six months.
POP Culture Group describes itself as a cultural industry operation enterprise focused on Chinese Pop Culture. The company offers services including live performances, artist management, intellectual property rights, film and television production, and entertainment marketing.
The Cayman Islands-incorporated firm, which primarily operates in China, started with a focus on hip-hop culture but has expanded into a diversified group specializing in Chinese Pop Culture across both online and offline platforms. InvestingPro analysis reveals 13 additional key insights about CPOP’s financial health and market performance, available to subscribers.
The announcement represents the company’s attempt to position itself at the intersection of digital assets and entertainment, according to the press release statement.
In other recent news, Pop Culture Group Co., Ltd. has completed a $33 million investment in Bitcoin, acquiring 300 BTC as part of its digital asset strategy. This move is part of the company’s broader plan to establish a cryptocurrency fund pool focused on stable digital assets like Bitcoin and Ethereum. Shareholders have also approved a name change to 华流文化集团有限公司 and amended the company’s memorandum and articles of association accordingly. In a strategic partnership, Pop Culture Group and Ciwen Media are collaborating to promote Chinese Wave artists, aiming to expand their presence in the entertainment market. Additionally, the company has signed an exclusive deal with comics artist Li Guo to create a new intellectual property series, blending comics with trendy sports. These developments indicate a diversification of Pop Culture Group’s business strategies, including an emphasis on digital assets and cultural partnerships.
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