BlockBeats News, May 24th, according to Businesswire, cross-border consumer goods e-commerce group DDC Enterprise (NYSE: DDC) announced the completion of the first batch purchase of 21 bitcoins as part of its corporate treasury strategy to incorporate Bitcoin. The company completed this purchase of approximately $2.28 million worth of Bitcoin through the issuance of 254,333 shares of Class A common stock in an equity swap transaction. DDC plans to complete the purchase of the remaining 79 bitcoins in the next few days, at which point its Bitcoin reserve will reach 100 bitcoins. The company's founder and CEO Norma Chu revealed in a shareholder letter that the goal is to accumulate 500 bitcoins within six months and reach 5,000 bitcoins within three years.
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