CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

BTC Pulse 2025-05-16 17:25:00

DayDayCook Targets 5,000 BTC Reserve Despite China’s Crypto Ban

DayDayCook to Acquire 5,000 BTC Within 36 Months Hong Kong lifestyle and food brand DayDayCook (DDC) is making a grand foray into Bitcoin, though the company conducts business in mainland China where cryptocurrency is still subject to close disapproval. DDC CEO Norma Chu detailed the firm’s Bitcoin reserve policy in a shareholder letter on May 15 in the form of a plan to accumulate a reserve of 5,000 BTC over the course of the next 36 months. The firm has already purchased 100 BTC for about $10.4 million as a beginning, with the short-term aim of 500 BTC by the end of 2025. Good Financials Fund BTC Ambitions DDC’s Bitcoin venture follows a successful fiscal year. During 2024, the firm recorded revenue expanding 33%, to 273.3 million Chinese yuan (approximately $37.4 million), according to its Form 20-F report filed with the U.S. Securities and Exchange Commission (SEC). Though the Bitcoin reserve plan is absent from the SEC report, Chu’s shareholder letter mentions DDC’s desire to lead “digital asset innovation.” SEC Filing Suggests Crypto Preparedness While the SEC filing itself does not explicitly characterize the Bitcoin buy, it does mention the DDC’s search for new funding strategies and crypto disclosure guidelines under FASB’s ASU 2023-08 accounting update . The report also identifies crypto as a new asset class that the company can potentially probe. DDC’s search for cost-reducing diversified revenues is the parameter defined in the filing, where Bitcoin can be a component of this as a hedge or strategic investment. Crypto Moves Despite Mainland Restrictions While it is Hong Kong-based, DDC also has a presence in mainland China, where cryptocurrency trading and cryptocurrency mining were outlawed in 2021. All the same, the move could be a sign of second thoughts by business in the region. Speculation continues about whether China will loosen its hardline policy as Hong Kong continues to develop its crypto-friendly policy and U.S. policy under President Trump leans in the direction of crypto. However, analysts are cautious about any sudden about-face by China’s hardline policy. Unanswered Questions Remain Cointelegraph contacted DayDayCook for further comment and didn’t get a response at press time. As regulatory and corporate demand for crypto shifts in Asia, DDC’s bold move could be the first of its kind and be a sign of things to come for Bitcoin adoption in restricted territories.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.