China-linked consumer brand DayDayCook plans to acquire 5,000 Bitcoin
DDC Enterprise, also known as DayDayCook, is adopting a Bitcoin reserve strategy, acquiring 100 BTC for approximately $10.4 million and aiming for a total of 5,000 BTC over the next 36 months. The CEO, Norma Chu, announced this initiative following a 33% revenue increase in 2024, totaling 273.3 million Chinese yuan ($37.4 million). Despite the announcement, DDC's latest SEC filings do not mention Bitcoin holdings or the reserve strategy. The company is exploring funding strategies and diversifying revenue streams while adhering to new crypto disclosure guidelines from the Financial Accounting Standards Board (FASB). Mainland China continues to enforce a restrictive stance on cryptocurrency, having banned crypto transactions since 2021, although speculation exists about a potential lifting of the ban amid growing adoption in Hong Kong.
