K Wave Media plans to raise $500 million through share sale, with a significant portion for purchasing Bitcoin.
The company aims to use Bitcoin for long-term holding, yield optimization, M&A activities, and other corporate purposes.
K Wave Media becomes the latest media and entertainment firm to adopt Bitcoin treasury strategy, joining other companies like MicroStrategy and Metaplanet.
Following the announcement, K Wave Media's stock surged over 130%, indicating strong market enthusiasm for firms aligning with Bitcoin.