Asia-based food company DDC Enterprise has announced its third Bitcoin purchase within a week, signaling an aggressive move toward its long-term reserve target.
Founded in 2012 in the Cayman Islands, the company confirmed the acquisition of 100 additional BTC in its latest purchase. CEO and Chairwoman Norma Chu emphasized that the company is ramping up its Bitcoin buying pace, underlining a patient strategy that is beginning to pay off.
Chu revealed that DDC aims to build a reserve of 10,000 BTC, currently worth about $1.1 billion. To date, the company has acquired Bitcoin at an average price of $104,538 per coin, starting with its first purchase in May. So far, the firm has reported an impressive 1,195% return on its investments.
Previously planning to acquire 5,000 BTC within its first 36 months, the company’s recent aggressive purchases suggest it will surpass that milestone. Viewing Bitcoin as a hedge against macroeconomic uncertainty, Chu stressed that the strategy would enhance shareholder value. Following the announcement, DDC’s stock price surged 25% to $12.84.
