South Korean media firm to raise $500M for Bitcoin treasury
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K Wave Media announced a $500 million securities deal to fund a Bitcoin-treasury strategy, aiming to become the “Metaplanet of Korea.”
South Korean entertainment company K Wave Media has entered into a securities purchase agreement worth up to $500 million to fund a Bitcoin-centric crypto treasury strategy.
According to a June 4 announcement, the firm said it reached a deal with Bitcoin Strategic Reserve KWM for the sale of ordinary shares. The deal includes the company’s sale of up to $500 million of ordinary shares to fund its Bitcoin treasury.
“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.
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