On June 4, K Wave Media, a South Korean entertainment company, signed a $500 million securities purchase agreement with Bitcoin Strategic Reserve KWM. The deal allows K Wave Media to sell up to $500 million worth of ordinary shares.
The company will use the money to build a Bitcoin treasury. It plans to buy and hold Bitcoin as part of a crypto asset strategy. K Wave Media is also exploring other digital assets.
At the time of the announcement, K Wave Media stock rose 162%, trading at $5.04 on Nasdaq, according to Google Finance.
“By embedding BTC into our core strategy, we’re reinforcing our commitment to decentralization, agility, and future-facing value creation,” said Ted Kim, co-interim CEO of K Wave Media.
K Wave Media Targets Bitcoin Path Similar to Metaplanet
K Wave Media said it wants to become the “Metaplanet of Korea.” Metaplanet is a public Japanese company that adopted a Bitcoin treasury model in 2024.
It currently holds over $118 million in Bitcoin, after issuing $21 million in bonds, following a $50 million raise, according to BitcoinTreasuries.net.
Metaplanet took inspiration from MicroStrategy, a U.S. company known for holding large amounts of Bitcoin. K Wave Media is now following that same path in South Korea.
The company confirmed that the share sale proceeds would go toward purchasing, long-term holding, and yield optimization of Bitcoin.
Bitcoin Treasury Plan Includes Lightning Network and K-POP Mergers
Besides Bitcoin purchases, K Wave Media plans to use part of the funding for mergers and acquisitions in the K-POP and entertainment industries. The company will also invest in Bitcoin Lightning Network infrastructure.
According to the announcement, K Wave Media will set up Lightning Network nodes to support faster and cheaper Bitcoin transactions.
The company said this will help create on-chain transaction rewards and support decentralization within its digital operations.
“Under this initiative, K Wave will, subject to certain limitations, allocate a significant portion of the proceeds received from the sale of any shares under the facility to the purchasing, long-term holding, and yield optimization of Bitcoin.”
No specific figures were shared for how much Bitcoin K Wave Media will buy or when the purchases will begin. However, the company confirmed Bitcoin is the core of its crypto asset strategy.
Public Firms in Asia Expand Corporate Bitcoin Reserves
K Wave Media joins a growing list of Asian public companies adding Bitcoin to their balance sheets.
The shift toward corporate Bitcoin reserves started with MicroStrategy in 2020 and has spread across Asia in recent years.
In Japan, Metaplanet leads the trend. Now, K Wave Media Bitcoin plans reflect a similar model in South Korea.
The firm intends to hold Bitcoin over the long term and may also consider other crypto assets later.
The agreement with Bitcoin Strategic Reserve KWM marks a key funding step for K Wave Media’s $500 million Bitcoin treasury plan.
The company has not shared a timeline for the full rollout of its crypto strategy.
It remains listed on Nasdaq and operates in the entertainment and media sectors, including K-POP.
The move to build a Bitcoin treasury signals a major shift in its capital strategy, focused on digital assets and crypto infrastructure.
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