DDC Enterprise Raises $528 Million to Bulk Up Bitcoin Holdings
Hong Kong’s DDC Enterprise just pulled off something big—a $528 million capital raise, most of it earmarked for buying Bitcoin. The food brands company, traded on the NYSE American, announced the move Tuesday, joining a growing crowd of firms betting heavily on crypto.
The money came from three separate securities sales. About $26 million was private equity, another $25 million from convertible notes (with potential for $275 million more down the line), and a smaller $2 million private placement that unlocked an additional $200 million credit line. Not exactly pocket change.
Why Bitcoin? And Why Now?
DDC isn’t new to Bitcoin. By mid-June, they’d already scooped up 138 BTC, worth around $14.6 million at today’s prices. They bought in at an average of $78,582 per coin—not bad, considering Bitcoin’s now hovering above $105,000. But this latest cash injection suggests they’re doubling down.
CEO Norma Chu called it a “watershed moment,” saying the company aims to build “one of the world’s most valuable corporate Bitcoin treasuries.” Ambitious, sure. But with half a billion dollars to play with, they’ve got room to try.
Food First, Crypto Second
Here’s the odd part: DDC isn’t a crypto company. Their main gig is food—specifically, Asian-inspired convenience brands like Omsom (Thai sauces), Yai’s Thai, and Nona Lima (noodles and soups). They also run DayDayCook, a recipe platform. So why the sudden Bitcoin obsession?
It’s hard to say. Maybe they see it as a hedge. Maybe they’re following the playbook of firms like Strategy, the Michael Saylor-led company that’s been hoarding Bitcoin since 2020. Either way, they’re not alone. Over 140 public companies now hold Bitcoin, collectively sitting on roughly $90.9 billion worth.
Market Reaction? Meh.
Investors didn’t exactly cheer. DDC’s shares dipped nearly 3% after the news, trading around $10.59. Then again, crypto moves tend to polarize. Some see it as visionary; others, reckless.
One thing’s clear: Bitcoin’s rally past $100,000 this year has made corporate treasuries take notice. Whether DDC’s bet pays off—well, that’s a question for another day. For now, they’re cooking with gas. Or maybe Bitcoin.
