Key Takeaways
- K Wave Media will raise $500M to build a Bitcoin treasury.
- The company aims to become the 'Metaplanet of Korea' with BTC at the core of its strategy.
- A significant portion of funds will go toward purchasing and holding Bitcoin long-term.
South Korean entertainment firm K Wave Media has announced a $500 million securities purchase agreement to launch a Bitcoin-focused treasury strategy.
The move positions the company as a potential regional counterpart to Metaplanet, which has gained attention for its aggressive Bitcoin accumulation.
Funding & strategic goals
The June 4 announcement confirmed that the funds will come from Bitcoin Strategic Reserve KWM through the sale of ordinary shares.
Ted Kim, co-interim CEO of K Wave Media, said:
By embedding BTC into our core strategy, we’re reinforcing our commitment to decentralization, agility, and future-facing value creation.
Market reaction & allocation plans
K Wave Media’s stock jumped 162% on Nasdaq, trading at $5.04 after the announcement.
The company stated it will allocate a “significant portion” of proceeds to purchase, hold, and optimize Bitcoin holdings.
Investment in Bitcoin infrastructure
In addition to Bitcoin acquisitions, K Wave Media intends to invest in Bitcoin Lightning Network infrastructure and operate Lightning nodes to support onchain transaction rewards and decentralization efforts.
Flexibility for growth & comparison with Metaplanet
The deal also provides flexibility for mergers and acquisitions to grow its K-POP and entertainment content business, although Bitcoin remains the centerpiece of its strategy.
The move mirrors those of other firms in Asia such as Japan’s Metaplanet, which recently became the eighth-largest corporate Bitcoin holder following a $118 million purchase.
