DDC Enterprise Raises $528 Million to Bulk Up Bitcoin Holdings
Hong Kong’s DDC Enterprise, a food brands company you might know for its Asian-inspired convenience foods, just pulled off something unexpected. The NYSE American-listed firm announced Tuesday it secured $528 million in funding—not to expand its noodle and sauce lines, but to buy Bitcoin. A lot of it.
The plan? Acquire 5,000 BTC over the next three years. That’s roughly $525 million at today’s prices. And they’ve already started. By mid-June, DDC had scooped up 138 Bitcoin, worth about $14.6 million, at an average price of $78,582 per coin. Not bad, considering Bitcoin’s now hovering around $105,000.
How the Funding Came Together
The money didn’t come from one place. DDC pieced it together through three separate deals: $26 million in private equity, $25 million from convertible notes (with another $275 million possible later), and a $2 million private placement that unlocked a $200 million credit line. Crypto-focused investors like Anson Funds, Animoca Brands, and Kenetic Capital chipped in.
Norma Chu, DDC’s CEO, called it a “watershed moment.” She’s betting big on Bitcoin, aiming to build “one of the world’s most valuable corporate treasuries” of the cryptocurrency. It’s a bold pivot for a company that makes ready-to-eat meals and runs a recipe platform called DayDayCook.
Why Bitcoin? And Why Now?
DDC isn’t the first to go this route. They’re following a playbook popularized by Michael Saylor’s Strategy, which started hoarding Bitcoin in 2020 and now holds over $63 billion worth. At least 140 other public companies have jumped in too, collectively sitting on nearly $91 billion in BTC, per bitcointreasuries.net.
The timing’s interesting. Bitcoin hit record highs this year, breaching $100,000 before settling slightly lower. That surge seems to have convinced more firms to treat it like a balance sheet asset—even if their core business has nothing to do with crypto.
But here’s the thing: DDC isn’t ditching its food brands. Omsom, Yai’s Thai, and Nona Lima aren’t going anywhere. The company insists it’ll keep running those while stacking Bitcoin on the side.
Investors, though, seem a little hesitant. DDC’s shares dipped almost 3% in the past day, trading around $10.59. Maybe they’re unsure about mixing Thai sauces and crypto. Or maybe it’s just a bad day in the market.
Either way, DDC’s move shows how Bitcoin’s creeping deeper into corporate strategy—even in places you wouldn’t expect. Whether that’s genius or gambling, well, we’ll find out.
