South Korean K-Pop media company plans to invest $500 million in Bitcoin, and its stock price soared more than 130% in one day

Recently, Nasdaq-listed K-pop media holding company K Wave Media (stock code: KWM) announced plans to sell up to $500 million in common stock to support its multiple business expansion strategies, including a striking plan: large-scale purchase of Bitcoin.

According to the company's announcement on Wednesday, the funds will be mainly used for the purchase of cryptocurrency assets, potential mergers and acquisitions, and other operating expenses. The company said: "K Wave will invest a considerable portion of the proceeds from the sale of shares through this mechanism in the purchase, long-term holding and profit optimization of Bitcoin under certain restrictions."

Affected by this news, KWM's stock price soared 132.39% on the same day, becoming the focus of market attention. K Wave emphasized that its goal is to become one of the first listed media companies to incorporate Bitcoin into core capital operations, and pointed out in a statement: "We believe that this is not only a choice of financial allocation, but also a long-term bet on the future value system."

This move also continues the current trend of companies treating Bitcoin as "digital gold" and incorporating it into the company's strategic reserves. According to statistics, at least 20 companies around the world hold more than $5 million worth of Bitcoin on their balance sheets, covering technology, finance, manufacturing and other fields.

K Wave Media said that its strategic inspiration was partly derived from the actions of Metaplanet, a Japanese listed company. The latter has recently purchased a large amount of Bitcoin and Ethereum in the open market, and has won high attention in the Asian market by combining capital market access with a dedicated crypto asset management model.

At the same time, K Wave also paid tribute to MicroStrategy, a strategy company led by Michael Saylor, which has continued to purchase Bitcoin since 2021 and currently holds more than $60 billion in assets. Its operating model of "debt financing in exchange for crypto asset allocation" is being emulated by more and more companies.

Founded in 2023 and headquartered in the Cayman Islands, K Wave Media focuses on the development of Korean pop culture content and products, especially the high-growth K-Pop market. Its business spans music content production, fan economy platforms and IP derivatives, and is rapidly expanding its influence in Asia and overseas markets.

"By embedding Bitcoin into our core strategy, we are reinforcing our commitment to decentralization, market agility, and future-oriented value creation," said Ted Kim, the company's co-interim CEO, in the announcement.

K Wave executives added that they "believe that a similar model - combining public market access with a dedicated Bitcoin fund management program - will resonate with investors in Asia and around the world,"