POP Culture Group splurges $33 million to buy Bitcoin, laying out a Web3 pan-entertainment encryption ecosystem.

The POP Culture Group in Xiamen, China (NASDAQ: CPOP) announced the completion of its strategic acquisition of Bitcoin (BTC), purchasing 300 BTC valued at approximately 33 million USD. The company plans to establish a "diversified crypto assets fund pool" focusing on investing in high-growth tokens related to the Web3 pan-entertainment sector.

First Bitcoin Acquisition Details

According to the announcement on September 10, POP Culture Group officially launched its digital asset reserve plan, with the first acquisition of 300 BTC, marking an important step for the company into the crypto market. This investment is the beginning of its creation of a "diversified crypto assets fund pool," which will also include potential altcoins such as Ethereum (ETH) and BOT in the future.

Investment Standards and Strategic Direction

The company's statement indicated that the selection of investment targets will be based on four major criteria:

1. High investment value and growth potential

2. Consistency with the company's strategic direction

3. Promising Crypto Assets in the Web3 Pan-Entertainment Field

4. Projects managed by quality artists or teams.

The company's CEO Huang Zhuoqin stated that this move is not only an asset allocation but also the starting point for creating a global Web3 pan-entertainment super ecosystem, transforming entertainment from a one-time experience into a digital asset with sustainable appreciation.

The entertainment industry accelerates its entry into the crypto market

The POP Culture Group focuses on the industrialization of Chinese pop culture. This entry into the crypto field aligns with the trend of global entertainment companies actively laying out digital assets. Previously, TRX Financial Company also expanded its crypto asset territory through a merger with NASDAQ-listed toy manufacturer SRM Entertainment.

Stock Price Reaction and Market Impact

After the announcement, CPOP's stock price soared to $2.11 at the opening on September 10, an increase of over 40% from the previous day's closing price, before falling back to around $1.36. Nevertheless, the stock has still accumulated a rise of over 55% in the past month, indicating a positive market reaction to its encryption strategy.

Conclusion

POP Culture Group has heavily invested 33 million USD in Bitcoin and plans to extend its investment reach into Web3-related entertainment tokens, indicating that the entertainment industry is accelerating its embrace of the crypto economy. With more entertainment companies entering the blockchain and digital asset space, the future market may usher in a new era of deep integration between traditional culture and crypto technology. For more real-time market and industry dynamics, please follow the official Gate platform.