Hong Kong-born U.S. enterprise DayDayCook (DDC), a leading online culinary education platform, has revealed an ambitious Bitcoin accumulation strategy in its latest shareholder letter. Founder and CEO Norma Chu confirmed the company has already acquired 100 Bitcoin (BTC) as the first phase of a three-year plan to build a 5,000 BTC reserve.
Record 2024 Revenue Fuels Bitcoin Reserve Initiative
According to DDC's SEC annual filing, the company achieved RMB 273 million (≈$37.4M) in 2024 revenue—a 33% YoY growth—providing financial confidence for its crypto asset strategy.
CEO Norma Chu first hinted at this direction in a March 18 letter, stating DDC would adopt Bitcoin reserves to strengthen financial resilience amid digital asset trends. By May 14, she tweeted confirmation:
"DDC now holds 100 Bitcoin."
Three-Phase Bitcoin Accumulation Roadmap
The detailed reserve plan outlined in Chu's May 15 shareholder communication reveals:
- Phase 1 (2024): 100 BTC acquired
- Phase 2 (2025): Target 500 BTC
- Phase 3 (2026-2027): Scale to 5,000 BTC
Strategic Financial Preparations Behind the Scenes
While DDC's public announcements are explicit, its SEC filings take a more cautious tone without direct Bitcoin references. The documents disclose active efforts to address capital needs through:
- Equity fundraising
- Debt issuance
- Existing debt repayment extensions
- Revenue diversification
- Cost optimization initiatives
The filing warns investors: "There's no guarantee of successful financing, which could impact operations if unavailable."
Notably, DDC references FASB's ASU 2023-08 accounting standards for crypto assets, suggesting internal preparations for Bitcoin balance sheet integration.
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China's Crypto Landscape: DDC Doesn't Reflect National Policy
Despite China's sustained 2021 crypto ban, Hong Kong's pro-blockchain stance and U.S. political shifts have sparked speculation about potential policy changes. Experts emphasize:
- DDC's strategy reflects corporate—not national—positioning
- Mainland China still prohibits corporate crypto holdings
- Hong Kong enterprises serve as crypto adoption test cases
Key Takeaways:
- 100 BTC purchased, 5,000 BTC targeted by 2027
- 33% revenue growth enables bold Bitcoin strategy
- SEC filings hint at preparations despite cautious wording
- Corporate adoption grows even amid regulatory uncertainty
👉 Essential guide to corporate Bitcoin treasury strategies
FAQ: Understanding DDC's Bitcoin Move
Q: Why would a culinary company invest in Bitcoin?
A: As a dollar-denominated exporter, DDC likely views Bitcoin as a hedge against currency volatility and inflation.
Q: How will DDC fund 5,000 BTC purchases?
A: Through operational cash flow, strategic financing, and potential debt/equity instruments.
Q: Does this signal China's crypto policy change?
A: No—DDC operates as a U.S. entity. Mainland China's ban remains active.
Q: What accounting standards apply?
A: FASB's ASU 2023-08 governs crypto asset reporting for U.S. firms.
Q: When will the next BTC purchases occur?
A: The roadmap suggests incremental buying through 2027.
Risk Disclosure: Cryptocurrency investments carry substantial risk, including total capital loss. Price volatility demands careful personal risk assessment.