A shocking sign of crypto’s quiet advance in mainland China has emerged—this time from the kitchen.
DayDayCook (DDC), a U.S.-listed meals and way of life model with operations in China, has taken a daring step into digital belongings by initiating a Bitcoin reserve plan.
CEO Norma Chu revealed the corporate has already acquired 100 BTC value roughly $10.4 million, with a long-term objective to build up as much as 5,000 BTC over the subsequent three years. The near-term goal: 500 BTC by the tip of 2025.
Although primarily based within the U.S., DDC operates closely in mainland China, a area lengthy recognized for its arduous stance on cryptocurrencies. The transfer raises eyebrows not only for its geographical context but additionally as a result of the corporate’s official SEC filings make no direct point out of this strategic shift—regardless of an in depth shareholder letter asserting it.
DDC’s annual submitting as a substitute alludes to the corporate’s seek for new income streams and references up to date crypto asset accounting pointers from the Monetary Accounting Requirements Board (FASB). Whereas the specifics round their Bitcoin holdings stay absent from regulatory paperwork, indicators level to a gradual embrace of crypto as a part of a diversification technique.
The agency’s choice follows a 12 months of strong monetary progress, with 2024 revenues rising 33% year-over-year to 273.3 million yuan (round $37.4 million). Based on Chu, the Bitcoin reserve marks a step towards “digital asset innovation” as the corporate navigates evolving monetary markets and funding challenges.
Although China continues to limit direct crypto exercise, DDC’s method might mark an early sign of how firms might discover workarounds—utilizing worldwide constructions to cautiously have interaction with digital belongings from inside tightly regulated environments.
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