U.S. -listed company K Wave Media has received US$1 billion in financing to promote Bitcoin strategy and has purchased 88 bitcoins
Online reports, GlobeNewswire reports that K Wave Media (NASDAQ: KWM) today announced a US$500 million convertible note agreement with Anson Funds, coupled with a US$500 million reserve equity purchase agreement previously reached with Bitcoin Strategic Reserve, bringing its total capital capacity to US$1 billion. The company has completed the purchase of the first batch of 88 bitcoins and plans to use at least 80% of the net financing proceeds for bitcoin acquisitions, with the goal of expanding to 10,000 bitcoins as soon as possible.
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