K Wave Media (KWM) stock rocketed higher on Wednesday after the company announced plans to create a Bitcoin (BTC) treasury. It will do so through a securities purchase agreement with Bitcoin Strategic Reserve KWM LLC for the sale of $500 million of KWM stock. The company said these funds will be used for its Bitcoin reserve activities, as well as for working capital and M&A activities.
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K Wave Media said it wants to become the “Metaplanet of Korea.” Metaplanet (JP:3350) is a Japanese company that saw massive growth in 2024 after it created a Bitcoin reserve. The stock has also continued to perform well in 2025.
Investors appear excited about K Wave Media’s Bitcoin treasury, with the stock up 98.44% this morning. However, the shares are still down 82.61% over the past year.
