According to the press release, financing will be carried out through the issue of ordinary shares. The buyer is the Bitcoin Strategic Reserve KWM LLC, with which an agreement was previously signed.
“The bold acceptance of K Wave Media Bitcoin as a reserve asset of the Treasury is a visionary step that signals the growing convergence of digital media and decentralized finance. We believe that this strategy will create a solid long -term value for its shareholders, ”said K Wave Media.
As part of the strategy for the formation of bitcoin treasury, the company plans to acquire and store an asset, as well as reinvesting profits from the portfolio in the acquisition of bitcoins and infrastructure initiatives.
In addition, K Wave Media is preparing to provide its customers with the opportunity to pay for the content and products of the company digital currencies, including bitcoin.
Earlier, the Spanish network of coffee houses Vanadi Coffee, shares of which are quoted in the stock market, announced plans to invest about $ 1.1 billion in Bitcoin. The decision should approve the meeting of shareholders on June 29.
Source: Bits
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