K-Pop media company K Wave announces bitcoin acquisition strategy, causing shares to skyrocket 132%.
2025-06-05 01:09:09
Nasdaq-listed K-Pop media company K Wave Media (ticker: KWM) announced yesterday that it will acquire bitcoin by selling up to $500 million of shares for mergers and acquisitions and other operational purposes. KWM shares rose 132.39% on the day. The company said it will hold and optimize BTC earnings for the long term, and the strategy is partially inspired by Japan's Metaplanet and MicroStrategy. K Wave is the first media listed company to incorporate bitcoin into its core financial strategy.
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