K Wave Media Bets $500M on Bitcoin to Become Korea Metaplanet

K Wave Media has announced a $500 million deal to fund a Bitcoin-centric treasury, aiming to replicate Metaplanet success and reshape Korea corporate crypto strategy.

South Korea K Wave Media has taken a bold step into the world of crypto-finance with a newly announced $500 million securities agreement aimed at building a Bitcoin-focused corporate treasury. The media and entertainment firm confirmed on June 4 that it had reached a deal with Bitcoin Strategic Reserve KWM for the issuance of up to $500 million in ordinary shares.

According to the statement, the capital raised will be directed towards what the company calls a “Bitcoin-centric digital asset treasury strategy,” marking a strategic pivot in both corporate finance and crypto asset management. “By embedding BTC into our core strategy, we’re reinforcing our commitment to decentralization, agility, and future-facing value creation,” stated Ted Kim, co-interim CEO of K Wave Media.

The firm is modeling its move after Metaplanet, a Japanese company whose stock surged following the adoption of a similar Bitcoin treasury model—originally inspired by MicroStrategy’s groundbreaking approach from 2020. K Wave Media hopes to become the Korean equivalent of Metaplanet in its positioning and influence in the crypto-treasury space.

As of the time of reporting, K Wave Media’s stock had soared 162%, now trading at $5.04 on Nasdaq, signaling immediate investor enthusiasm. The strategic shift also includes potential acquisition activity aimed at expanding the firm’s K-POP and media empire, though Bitcoin remains at the heart of the plan.

Specifically, the company disclosed that “under this initiative, K Wave will, subject to certain limitations, allocate a significant portion of the proceeds received from the sale of any shares under the facility to the purchasing, long-term holding, and yield optimization of Bitcoin.”

In addition to holding Bitcoin, K Wave Media also plans to integrate deeper into crypto infrastructure. The company revealed intentions to operate Bitcoin Lightning Network nodes and invest in technology that enables on-chain transaction rewards, as part of a broader effort to promote decentralization and blockchain-native revenue models.

K Wave Media thus joins a growing league of forward-thinking public companies in Asia embracing Bitcoin as a strategic reserve asset. This expanding movement—sparked by MicroStrategy’s early adoption—is gaining increasing traction across regions, with firms like Metaplanet already setting the stage. Data from Bitcoin Treasuries supports the observation that this trend is no longer a Western-led phenomenon but an emerging global shift.

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