coindesk.com
Bitcoin treasury firm DDC (DDC) announced it has acquired another 100 bitcoin to its treasury, bringing total holdings to 1,183 BTC.
As somewhat opposed to sector giant Strategy — which makes price agnostic buys — DDC said the purchase was made during the recent market pullback, which it viewed as constructive for long term positioning. For its overall holdings, DDC now has an average cost of $106,952 per bitcoin.
Management highlighted improved bitcoin yield in the second half of the year, up to 122%, and said its governance framework allows it to act with discipline rather than reacting to short term price swings.
“Our approach is defined by discipline, patience, and long term conviction,” CEO Norma Chu said.
DDC shares rose 22% to $3.465 following the announcement, although the stock remains down more than 80% from its June peak. Bitcoin is little-changed for the day at just under $87,000.