Strategic Bitcoin Acquisition Begins
DDC Enterprise, a Hong Kong-based meal delivery company listed on the New York Stock Exchange and widely known as DayDayCook, has officially entered the world of corporate Bitcoin treasury holdings. On May 23, the company purchased 21 Bitcoin for $2.28 million, marking its first foray into cryptocurrency investment.
This acquisition was executed through the exchange of 254,333 class A ordinary shares, signaling a strategic shift in how the company manages its capital reserves. As part of a broader financial initiative, DDC aims to accumulate 500 Bitcoin within six months and scale up to 5,000 BTC over three years—a bold ambition that could position it among the top global corporate holders of Bitcoin.
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The move aligns with a growing trend of public companies diversifying away from traditional fiat reserves and adopting hard assets like Bitcoin as a hedge against inflation and currency devaluation. According to CEO and founder Norma Chu, this strategy was formally announced in a shareholder letter on May 15, emphasizing long-term value preservation and financial innovation.
DDC plans to reach its initial milestone of 100 BTC through two additional near-term purchases totaling 79 Bitcoin, expected to be completed in the coming days. These early acquisitions lay the foundation for what could become one of Asia’s most aggressive corporate Bitcoin accumulation campaigns.
Market Reaction Defies Industry Norms
Unlike typical market responses to corporate Bitcoin adoption—where stock prices often surge—DDC Enterprise experienced a sharp decline on the announcement day. Its shares closed down 14.5% on May 23, briefly dipping before recovering slightly to $3.79 in after-hours trading.
This negative reaction stands in stark contrast to recent examples such as DigiAsia, whose stock skyrocketed over 90% in a single session following its announcement of a $100 million Bitcoin treasury plan earlier in May. Historically, investors have rewarded companies embracing Bitcoin with increased confidence and valuation multiples, citing improved balance sheet resilience.
Yet DDC’s stock has shown persistent weakness, declining more than 27% year-to-date, with Friday’s drop adding to ongoing concerns. Analysts suggest several factors may be contributing:
- Investor skepticism about dilution from share-based Bitcoin purchases
- Limited understanding of Bitcoin's treasury role among traditional retail investors
- Broader market volatility affecting small-cap stocks
Despite these challenges, the company remains committed to its vision, believing that long-term value creation will ultimately outweigh short-term sentiment.
Expanding Institutional Adoption Across Asia
DDC’s decision reflects a broader shift toward institutional Bitcoin adoption across Asia—even amid strict regulatory environments. While China maintains a comprehensive ban on cryptocurrency transactions, demand for digital assets continues to grow among high-net-worth individuals and forward-thinking corporations.
Just one day before DDC’s announcement, Jiuzi Holdings, a Chinese electric vehicle retailer, approved a plan to purchase 1,000 Bitcoin over the next 12 months, underscoring increasing interest in crypto as a strategic reserve asset.
Reports indicate that affluent investors across Asia are reallocating capital away from U.S. dollar-denominated instruments toward gold, cryptocurrencies, and Chinese domestic assets. This macro-level trend supports the rising appeal of Bitcoin treasuries as a tool for wealth preservation and cross-border liquidity.
In parallel, regulatory developments in Hong Kong are creating a more structured environment for digital finance. The city’s Legislative Council recently passed the Stablecoin Bill, establishing a legal framework for stablecoin issuers. Institutions are expected to begin applying for issuance licenses by the end of 2025, further legitimizing blockchain-based financial infrastructure.
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Core Strategy and Financial Vision
DDC’s Bitcoin acquisition strategy combines two primary methods:
- Share exchanges: Converting equity into Bitcoin to minimize cash outflow
- Direct market purchases: Acquiring BTC using available capital
The dual approach allows flexibility while maintaining operational stability. By leveraging existing shares, DDC avoids draining working capital, enabling continued investment in its core heat-and-eat meal business across Asia.
The company targets completing its first 500 BTC accumulation by the end of 2025, followed by scaling to 5,000 BTC within three years. At current market prices, 5,000 BTC represents over $300 million in holdings, placing DDC just outside the top 10 publicly listed companies by Bitcoin reserves.
According to data from Bitbo, only a handful of firms—including MicroStrategy, Marathon Digital, and Japan’s Metaplanet—currently hold more. With Metaplanet sitting at 7,800 BTC, DDC’s goal positions it as a serious contender in the institutional Bitcoin space.
Key Objectives:
- Hedge against inflation and fiat currency depreciation
- Enhance shareholder value through asset diversification
- Position as a leader in blockchain-integrated traditional enterprises
- Prepare for potential future integration of blockchain logistics or payments
Frequently Asked Questions (FAQ)
Q: Why is DDC Enterprise buying Bitcoin?
A: DDC views Bitcoin as a long-term store of value and a strategic treasury asset to protect against inflation and economic uncertainty. The company believes digital assets offer superior scarcity and global liquidity compared to traditional reserves.
Q: How will DDC fund its Bitcoin purchases?
A: The company is using a combination of share exchanges and direct cash purchases. The initial 21 BTC were acquired by exchanging 254,333 class A ordinary shares, reducing immediate cash impact.
Q: Is DDC selling off its business operations to buy Bitcoin?
A: No. The company emphasizes that its core meal delivery business remains operational and financially supported. Bitcoin accumulation is framed as a capital allocation strategy, not an operational pivot.
Q: How does DDC’s stock performance compare to other Bitcoin-adopting firms?
A: Unlike peers such as DigiAsia—which saw shares jump 90%—DDC’s stock fell 14.5% after its announcement. This divergence may reflect investor concerns about equity dilution or limited market confidence in the strategy’s execution.
Q: Could regulatory issues affect DDC’s plan?
A: While mainland China bans crypto transactions, Hong Kong operates under a separate regulatory regime that permits institutional participation. As long as DDC complies with local laws and conducts transactions outside restricted jurisdictions, its plan remains viable.
Q: When will DDC reach 5,000 BTC?
A: The target is set for completion within three years from the start of the program in May 2025. The company aims to acquire 500 BTC within the first six months as an initial benchmark.
Looking Ahead: A New Era for Corporate Treasuries?
DDC Enterprise’s bold move highlights a growing willingness among Asian firms to challenge conventional finance models. While market reactions have been mixed, the underlying logic—preserving value in an era of monetary expansion—is shared by many institutional investors globally.
As more companies explore Bitcoin integration, transparency, execution clarity, and investor education will be critical to gaining trust and driving positive sentiment.
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With clear milestones and a structured timeline, DDC has laid out one of the most ambitious treasury plans seen in the region. Whether it succeeds will depend not only on market conditions but also on its ability to communicate value and maintain operational strength throughout the transition.
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