Another Public Company Announces BTC Reserves—Stock Soars Over 130%!
TradingKey – K Wave Media (KWM), a diversified entertainment company, has announced Bitcoin reserves, sending its stock price skyrocketing by 133%.
On Wednesday, June 4, following the revelation that K Wave Media (KWM), a Nasdaq-listed Korean pop music media conglomerate, will hold BTC reserves, the company’s stock price surged 133% to $4.48.
K Wave Media Stock Price Chart – Source: Google.
Founded in 2023, K Wave Media operates across multiple entertainment sectors, focusing on the rapidly growing K-pop industry. Yesterday, the company announced a plan to sell up to $500 million in stock, with proceeds allocated for buying bitcoins, mergers & acquisitions and other strategic initiatives.
While many publicly traded companies lack direct involvement with Bitcoin, several major firms — including MicroStrategy and Tesla — remain heavily invested. According to The Block, at least 20 global corporations currently hold over $5 million in BTC on their balance sheets.
The rising trend of corporate Bitcoin reserves could fuel BTC demand, while simultaneously advancing stock tokenization, fostering greater integration between crypto and traditional equity markets.
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