{"id":848676,"date":"2025-05-16T09:12:04","date_gmt":"2025-05-16T14:12:04","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/16\/china-linked-consumer-brand-daydaycook-plans-to-acquire-5000-bitcoin\/"},"modified":"2025-05-16T09:12:04","modified_gmt":"2025-05-16T14:12:04","slug":"china-linked-consumer-brand-daydaycook-plans-to-acquire-5000-bitcoin","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/16\/china-linked-consumer-brand-daydaycook-plans-to-acquire-5000-bitcoin\/","title":{"rendered":"China-linked consumer brand DayDayCook plans to acquire 5,000 Bitcoin"},"content":{"rendered":"
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Mainland China, one of the world\u2019s most restrictive countries toward cryptocurrency, may be inching closer to adoption as a locally operating brand announced a Bitcoin reserve strategy.<\/p>\n

DDC Enterprise, also known as DayDayCook, a US consumer brand with Hong Kong roots and operations in mainland China, is adopting a Bitcoin (BTC<\/a>) reserve strategy, CEO Norma Chu announced<\/a> in a shareholder letter on May 15.<\/p>\n

As part of the strategy, DDC has acquired 100 BTC for about $10.4 million and plans to accumulate 5,000 BTC in the next 36 months, with 500 BTC targeted by the end of 2025.<\/p>\n

Chu\u2019s Bitcoin reserve announcement came after the firm posted a 33% revenue increase in 2024, with total revenue amounting to 273.3 million Chinese yuan ($37.4 million), according<\/a> to its Form 20-F filing with the US Securities and Exchange Commission (SEC) on May 15.<\/p>\n

DDC\u2019s Bitcoin plans missing in SEC records<\/h2>\n

Despite the public announcement, DDC\u2019s latest SEC filings do not explicitly mention the company\u2019s Bitcoin holdings or a Bitcoin reserve strategy. <\/p>\n

\u201cWe are embarking on a pioneering initiative to position DDC at the forefront of digital asset innovation with laser-focused execution on Bitcoin accumulation,\u201d the DDC CEO said in the shareholder letter.<\/p>\n

Chu previously announced<\/a> DDC\u2019s intentions to adopt a Bitcoin reserve strategy in another letter on March 18.<\/p>\n

Source: <\/em>Norma Chu<\/em><\/a><\/figcaption><\/figure>\n

Although DDC\u2019s annual report does not mention Bitcoin reserve plans, the SEC filing provides hints of the company\u2019s intended adoption of BTC as a new asset class.<\/p>\n

\u201cThe company [DDC] is evaluating strategies to obtain the required additional funding for future operations,\u201d the report said, adding:<\/p>\n

\u201cThe Company plans to diversify revenue streams and implement cost-saving measures to grow revenues and decrease expenses. However, the company may be unable to access further equity or debt financing when needed.\u201d<\/p><\/blockquote>\n

Additionally, the filing refers to crypto disclosure guidelines set by the accounting standards update by the Financial Accounting Standards Board (FASB) issued<\/a> in late 2023.<\/p>\n

An excerpt from the DDC\u2019s F-20 annual report. Source: SEC<\/em><\/figcaption><\/figure>\n

\u201cIn December 2023, the FASB issued ASU 2023-08, \u201cIntangibles, Goodwill and Other-Crypto Assets (Subtopic 350-60). Accounting for and Disclosure of Crypto Assets,\u201d the filing notes, adding that firms are allowed to start using the new rules early if their financial reports haven\u2019t been published yet.<\/p>\n

China\u2019s evolving stance on crypto<\/h2>\n

DDC\u2019s filing says that the firm partly operates in mainland China and Hong Kong, which puts its financial conditions and growth under the influence of local political, economic and social developments.<\/p>\n

As of May 2025, mainland China has maintained a restrictive agenda toward cryptocurrency trading and mining since 2021, when local regulators announced a major ban on crypto transactions<\/a>.<\/p>\n

Related: <\/strong><\/em>US-China trade deal could shed light on Bitcoin\u2019s use case: Trader<\/strong><\/em><\/a><\/p>\n

However, many online reports have speculated<\/a> that China may lift its crypto ban amid growing adoption in Hong Kong, as well as the ongoing global shift to crypto fueled by the crypto-friendly approach of the US administration<\/a> under President Donald Trump.<\/p>\n

Bitcoin mining map by countries as of January 2022. Source: CBECI<\/em><\/figcaption><\/figure>\n

Still, some analysts have\u00a0questioned mainland China\u2019s plans<\/a>\u00a0to \u201cunban Bitcoin\u201d despite the fact that it has somehow\u00a0remained a major global player in Bitcoin mining<\/a>\u00a0even after the ban was enacted.<\/p>\n

Cointelegraph approached DDC for comment regarding its Bitcoin reserve plans but had not received a response by the time of publication.<\/p>\n

Magazine: <\/strong><\/em>How Chinese traders and miners get around China\u2019s crypto ban<\/strong><\/em><\/a><\/p>\n