K-Pop Media Company K Wave Announces Bitcoin Acquisition Strategy, Stock Price Soars 132%
According to a report by Jinse Finance, Nasdaq-listed K-Pop media company K Wave Media (code KWM) announced yesterday that it will sell up to $500 million in stock to purchase Bitcoin, for mergers and acquisitions, and other operational purposes. KWM's stock price rose by 132.39% on the same day. The company stated that it will hold and optimize BTC returns in the long term, with strategic inspiration partly drawn from Japan's Metaplanet and MicroStrategy. K Wave is among the first media-listed companies to incorporate Bitcoin into its core financial strategy.
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