Pop Culture Group plans to buy 1,000 Bitcoin for crypto fund

HONG KONG - Pop Culture Group Co., Ltd. (NASDAQ:CPOP), a $108.1 million market cap company whose stock has surged 132.82% over the past six months, announced Thursday its plans to acquire an additional 1,000 Bitcoin over the next year as part of establishing a $100 million "Crypto Pop Fund."

The company said the initiative represents its entry into the crypto entertainment market, according to a press release statement.

CPFH, which operates under Pop Culture Group, intends to integrate technologies including artificial intelligence, blockchain, tokenization, and gamification into its business operations.

The company stated these technologies would be applied to ticketing systems and audience engagement experiences for music festivals and concerts, while also providing financing solutions based on new revenue models.

The announcement comes as more companies explore cryptocurrency investments and blockchain applications within the entertainment industry.

In other recent news, POP Culture Group Co., Ltd. has made a significant move by completing 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, targeting promising cryptocurrencies in the Web3 entertainment sector. Shareholders recently approved three proposals at an extraordinary general meeting, including a special resolution to change the company’s dual foreign name and an ordinary resolution for meeting adjournment if necessary. In a strategic move to expand its presence in the Chinese Wave entertainment market, POP Culture Group has partnered with Ciwen Media to support singers and musicians in the domestic music and performance market. Additionally, the company has signed an exclusive deal with comics artist Li Guo to create a new intellectual property series. This collaboration will blend Li’s avant-garde comic style with POP Culture Group’s focus on street dance and youth culture. The first project from this partnership will adopt a cross-media approach, merging comics with trendy sports. These developments mark a busy period for POP Culture Group as it continues to diversify and expand its business strategies.

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