US-listed K Wave Media to pursue $500 million capital increase for Bitcoin reserves

Nasdaq-listed K Wave Media has announced plans for a $500 million capital increase to accumulate Bitcoin reserves.

According to GlobeNewswire on the 4th (local time), K Wave Media stated, "We are pursuing a $500 million capital increase for a Bitcoin treasury strategy and to expand our content business," adding, "A significant portion of the funds raised will be used to purchase Bitcoin." In addition, the company said it "plans to operate Bitcoin Lightning Network nodes and invest in Bitcoin-native infrastructure."

Furthermore, K Wave stated, "We are targeting Metaplanet of Korea," and added, "We will accelerate the company's growth through a Bitcoin reserve strategy."

Choi Pyeong-ho, Chairman of the Board at K Wave Media, expressed, "Through a strategic Bitcoin reserve, we will create strong and long-term value for shareholders."

Ted Kim, Acting CEO of K Wave Media, noted, "Bitcoin offers a foundation for global scalability beyond being merely a store of value," and projected, "This will be a major turning point that will help strengthen our position in the K-pop ecosystem."