Chinese public company CPOP launches Bitcoin treasury with 300 BTC initial acquisition worth $33M as stock surges 56% building Web3 entertainment ecosystem.
Chinese entertainment company CPOP has acquired 300 Bitcoin worth $33 million for its new crypto treasury fund.
Following Tuesday’s announcement, the company’s stock surged 56% from $1.35 to $2.11 before retreating to $1.56 amid broader market volatility.
This latest acquisition follows CPOP’s July announcement of plans to enter crypto markets, which initially drove shares up 270% from around $0.50 as investors anticipated the company’s digital asset shift.
Pop Culture Group Co., Ltd. has established what it calls a diversified crypto fund pool targeting Bitcoin, Ethereum, and BOT alongside other promising Web3 entertainment projects.
CPOP’s Web3 Entertainment Vision Takes Shape
CEO Huang Zhuoqin positioned the acquisition as foundational to building “a global Web3 pan-entertainment super ecosystem” spanning live events, digital content, and artist management.
Building on this vision, the executive outlined plans to transform entertainment “from disposable emotional experiences into sustainably appreciating digital assets,” directly connecting traditional Chinese pop culture with blockchain technology.
This strategic approach extends CPOP’s July framework, which originally identified cryptocurrency’s potential for efficient payment processing across ticketing systems and merchandise sales.
Beyond payment efficiency, the Xiamen-based company showed how digital assets could integrate with offline events, digital collectibles, and fan economies within its broader entertainment ecosystem.
With operations spanning live performances, artist management, intellectual property rights, film production, and multi-channel network services, CPOP’s diversified business model uniquely positions it for Web3 integration.
Accordingly, the fund will target promising cryptocurrencies in Web3 entertainment, high-value investment projects, strategic equity opportunities, and artist incubation initiatives that align with these existing capabilities.
Corporate Bitcoin Movement Expands Amid Growing Scrutiny
CPOP joins a rapidly expanding corporate Bitcoin movement that has accumulated 3.71 million BTC, worth approximately $428 billion, across 325 entities.
Source: BitcoinTreasuries
This strategy mirrors a centuries-old wealth-building playbook of borrowing in depreciating fiat currency to acquire scarce assets, as executed by everyone from Fred Trump’s FHA-leveraged real estate empire to Hugo Stinnes buying hard assets with devaluing German marks during hyperinflation.
Corporate adoption continues to accelerate, with businesses purchasing an average of 1,755 Bitcoin daily over the past 20 months, according to BitcoinTreasuries data.
