DDC Enterprise Limited announced on October 8 that it has raised $124 million in an equity financing round led by PAG Pegasus Fund and Mulana Investment Management. The firm plans to acquire 10,000 BTC by the year‑end.
According to the press release, the company said the funds will be used to advance its Bitcoin treasury strategy and strengthen its position in the digital asset space. The investment was joined by OKG Financial Services Limited, a subsidiary of OKG Technology Holdings Limited.
Strong conviction from investors
The new shares were priced at $10 each, which is close to DDC’s average trading price over the last 15 days and 16 % higher than its closing price on October 7. Norma Chu, the Founder, Chairwoman, and CEO of the company, also invested $3 million of her own money in the round. All investors, including Chu, have agreed to a 180‑day lock‑up period, to confirm their faith in DDC’s long‑term strategy.
DDC said it plans to expand its Bitcoin Holding with a target of 10,000 BTC by the end of 2025. Currently, the company holds 1,058 BTC. Originally known as a global Asian food company, DDC shifted its focus toward becoming a corporate Bitcoin treasury firm this year as institutions increasingly view Bitcoin as a hedge against inflation and currency devaluation.
Growing Numbers of Bitcoin Treasuries
DDC’s bet on Bitcoin comes amid a growing trend of BTC treasuries in the finance sector. This involves institutions and corporations adding the cryptocurrency to their balance sheet. The trend was started by Strategy, a software company run by Michael Saylor, which is currently the largest corporate holder of Bitcoin and holds over 640,031 BTC.
According to data from BitcoinTreasuries, more than 100 publicly listed companies had adopted Bitcoin treasury strategies in the past few years, collectively holding 1,044,993 BTC, representing about 4.9 % of the entire Bitcoin supply.
These holdings grew 31 % over 2024 and almost doubled in early 2025. In the second quarter of 2025, companies acquired roughly 131,000 BTC, outpacing ETFs, which added only 111,000 BTC in the same period.