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U.S. listed company K Wave Media has secured $1 billion in funding to advance its Bitcoin strategy, having purchased 88 Bitcoins.
ChainCatcher news, according to GlobeNewswire, K Wave Media (NASDAQ: KWM) today announced a $500 million convertible note agreement with Anson Funds, along with a previously reached $500 million standby equity purchase agreement with Bitcoin Strategic Reserve, bringing its total capital capacity to $1 billion. The company has completed the purchase of the first batch of 88 Bitcoins and plans to use at least 80% of the net proceeds from financing for Bitcoin acquisition, aiming to expand to 10,000 Bitcoins as soon as possible.