Catenaa, Sunday, June 15, 2025-Nasdaq-listed K Wave Media (ticker KWM), a K-Pop media holding company, saw its stock jump more than 130% Wednesday following an announcement of a Bitcoin acquisition strategy.
The company said it plans to raise up to $500 million through a stock sale to fund its purchases of Bitcoin, mergers and acquisitions, and other corporate operations. A significant portion of the proceeds will be allocated toward purchasing, long-term holding, and yield optimization of Bitcoin.
“By embedding BTC into our core strategy, we’re reinforcing our commitment to decentralization, agility, and future-facing value creation,” said Ted Kim, co-interim CEO of K Wave Media.
K Wave Media, founded in 2023 and based in the Cayman Islands, focuses primarily on the expanding K-Pop entertainment industry, producing content and merchandise for the genre’s growing global audience.
The move places K Wave among the growing list of publicly traded companies adopting Bitcoin as a strategic reserve asset. According to data from The Block, over 20 firms worldwide hold at least $5 million in Bitcoin.
The trend gained traction following the success of MicroStrategy, which began acquiring Bitcoin in 2021 and currently holds more than $60 billion in the cryptocurrency. K Wave’s leadership cited Japan-based Metaplanet, known for building a Bitcoin and Ether treasury, as a source of inspiration.
K Wave’s stock was up 132.39% on the day, reflecting strong investor enthusiasm for blockchain-linked strategies in the media sector.
