The continental China, one of the most restrictive countries in the world towards cryptocurrency, can approach adoption, because the locally operating brand has announced the Bitcoin reserve strategy.
DDC Enterprise, also known as DaydayCook, American consumer brand with roots and operations in continental China, adopts the Bitcoin (BTC) reserve strategy, CEO of CH announced In the shareholder’s letter on May 15.
As part of the DDC strategy, it purchased 100 BTC for around 10.4 million USD and plans to accumulate 5000 BTC in the next 36 months, from 500 BTC directed until the end of 2025.
The Bitcoin Chu reserve was announced after the company recorded an raise in revenues by 33% in 2024, and the total revenues is 273.3 million Chinese yuan (USD 37.4 million), According to to the 20-F form of notification to the American Commission of Securities and Stock Exchange (SEC) on May 15.
Bitcoin DDC plans are missing in Sec Records
Despite the public announcement, the latest SEC DDC applications do not clearly mention Bitcoin Holdings or Bitcoin’s reserve strategy.
“We are presenting a pioneering DDC positioning initiative at the head of the innovation of digital resources with laser -oriented in Bitcoin accumulation,” said DDC CEO in a shareholder list.
Chu earlier announced DDC intentions to accept Bitcoin’s reserve strategy in another letter on March 18.
Although the DDC annual report does not mention the Bitcoins reserve plans, the SEC application provides tips on the intended acceptance by BTC as a up-to-date class of assets.
“Business [DDC] He evaluates strategies to obtain the required additional financing for future activities, “said the report, adding:
“The company plans to diversify streams of income and implement savings to increase revenues and reduce expenses. However, if necessary, the company may not be able to access further financing of capital or debts.”
In addition, the application refers to guidelines for disclosure of cryptocurrencies determined according to the update of accounting standards according to the Council of Financial Accounting Standards (FASB) released At the end of 2023
“In December 2023, Fasb released ASU 2023-08,” Assets of nonphysical values, the value of good will and other Crypto (Subtopic 350-60). Accounting and disclosure of cryptographic assets, “he notes, adding that companies can start using the new rules early, if their financial reports have not yet been published.
The evolving attitude of China on the crypto
The DDC application says that the company partly operates in continental and Hong Kong China, which puts its financial conditions and growth under the influence of local political, economic and social events.
From May 2025, continental China maintained a restrictive program towards cryptocurrency trading and extraction from 2021, when local regulatory authorities announced a serious ban on cryptographic transactions.
Related: A US-China trade clerk can shed light on the case of the use of bitcoin: trader
However, he has many online reports speculated that China can increase the cryptocurrency ban among growing adoption in Hong Kong, as well as a ongoing global change to crypto -fueled by cryptocurrency -friendly US administration approach under President Donald Trump.
Despite this, some analysts questioned the plans of continental China “Unban Bitcoin”, although he somehow remained the main global player in Bitcoin mining, even after the ban.
Cointelegraph turned to DDC for a comment regarding the Bitcoin reserve plans, but he did not receive an answer until publication.
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