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Investing.com -- Pop Culture Group Co Ltd (NASDAQ:CPOP) stock surged 32% Thursday after the company announced plans to accumulate 1,000 Bitcoin over the next year as part of its strategy to establish a $100 million "Crypto Pop Fund."
The company’s subsidiary, CPFH, will use this initiative to enter the crypto entertainment market, which it describes as a trillion-dollar sector. Pop Culture Group aims to leverage technologies including artificial intelligence, blockchain, tokenization, and gamification to transform various aspects of the entertainment industry.
According to the announcement, CPFH plans to develop new solutions for ticketing systems, real-time audience engagement experiences, and financing based on innovative revenue models specifically for music festivals and concerts.
The significant stock movement reflects market reaction to the company’s ambitious cryptocurrency expansion strategy, which represents a major pivot toward digital assets and blockchain-based entertainment solutions.
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