GD Culture Group Approves Bitcoin Sale to Fund Stock Buyback Program
- GD Culture Group plans to sell part of its 7,500 BTC reserve to finance a $100 million stock repurchase program.
- The current value of GD Culture’s Bitcoin treasury is approximately $513.5 million, down from an acquisition cost of $841.5 million.
- The company reports an unrealized loss of $328.01 million, reflecting a decline of about 39% from the initial purchase price.
- GD Culture is ranked 15th among public firms holding Bitcoin treasuries, just ahead of Galaxy Digital.
- The company’s stock has decreased over 12% year-to-date amid the broader decline in crypto prices.
This decision comes as GD Culture faces significant market pressure and aims to stabilize its stock price amidst a prolonged downturn in cryptocurrency values.
With an unrealized loss of $328.01 million on its Bitcoin holdings, GD Culture’s strategy reflects ongoing challenges in the crypto market.(Source)
