K Wave Media Inc. (KWM), the first Korean media alliance listed on Nasdaq, has announced plans to raise up to $500 million through stock sales to fund Bitcoin purchases. In a translated statement, the company emphasized its ambition to become the 'Metaplanet of Korea,' seeking to intertwine public market access with a dedicated Bitcoin treasury initiative. K Wave intends to use the capital not only to acquire and hold Bitcoin for the long term but also to operate Lightning Network nodes and invest in Bitcoin-native infrastructure aimed at yielding returns and decentralized transaction rewards. Following the announcement, KWM's stock price surged by 155% in premarket trading, reflecting heightened investor interest in the company's Bitcoin strategy. Market analysts view this move as a sign of growing institutional confidence in Bitcoin and its potential as a mainstream asset.
K Wave Media Plans $500 Million Bitcoin Purchase, Stock Rises 155%
K Wave Media Inc. aims to raise $500 million for Bitcoin investments, causing a 155% surge in their stock. The initiative focuses on long-term holdings and infrastructure development.
Jamie Bennett
Crypto Analyst
5 min read
28,884
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 8/10
Trading Recommendation
BTC
BTC
BUY
Entry Price
$30500
Confidence
70%
Stop Loss
$29500
Take Profit
$32000 - $33500
Positive news regarding significant investment in Bitcoin by a major company drives bullish behavior.
