The consumer brand "DDC" associated with China plans to acquire 5,000 Bitcoins.

Source: Cointelegraph Original text: “The consumer brand related to China, ‘DDC’, plans to acquire 5,000 Bitcoins”

Mainland China, as one of the countries with the strictest restrictions on cryptocurrencies globally, may be gradually approaching the adoption of cryptocurrencies, as a locally operating brand announced a Bitcoin (BTC) reserve strategy.

DDC Enterprise, also known as DayDayCook, a U.S. consumer brand with roots in the Hong Kong area and operating in Chinese mainland, is adopting a Bitcoin (BTC) reserve strategy, CEO Xiaoling Zhu announced in a May 15 shareholder letter.

As part of this strategy, DDC has purchased 100 bitcoins for approximately $10.4 million and plans to accumulate 5,000 bitcoins over the next 36 months, with a target of reaching 500 bitcoins by the end of 2025.

Zhu Xiaoling’s Bitcoin reserves announcement came after the company reported a 33% increase in revenue for 2024. According to the Form 20-F submitted to the U.S. Securities and Exchange Commission ( SEC ) on May 15, total revenue reached 273.3 million RMB ( 37.4 million USD ).

Despite the public announcement, the latest documents submitted by DDC to the SEC do not explicitly mention the company’s Bitcoin holdings or Bitcoin reserve strategy.

“We are launching a groundbreaking initiative, positioning DDC at the forefront of digital asset innovation by focusing on the execution of Bitcoin accumulation strategies,” said the CEO of DDC in the shareholder letter.

Zhu Xiaoling had previously announced the intention for DDC to adopt a Bitcoin reserve strategy in another letter on March 18.

Although DDC’s annual report does not mention a Bitcoin (BTC) reserve plan, the SEC filing reveals hints that the company intends to incorporate BTC as a new asset class.

“The company [DDC] is evaluating strategic plans to obtain additional funds needed for future operations,” the report noted, adding further:

“The company plans to diversify its revenue sources and implement cost-cutting measures to increase income and reduce expenses. However, the company may face difficulties in obtaining additional equity or debt financing when needed.”

In addition, the declaration document also references the cryptocurrency disclosure guidelines established in the accounting standards update issued by the Financial Accounting Standards Board (FASB) at the end of 2023.

“In December 2023, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2023-08, ‘Intangible Assets, Goodwill and Others - Crypto Assets (Subtopic 350-60). Accounting for and Disclosure of Crypto Assets,’” the document states, adding that if a company’s financial statements have not yet been published, these new rules may be adopted early.

The DDC documents indicate that the company operates some of its business in mainland China and Hong Kong, which significantly impacts its financial condition and development due to local political, economic, and social development trends.

As of May 2025, mainland China has maintained strict restrictive policies on cryptocurrency trading and mining activities since the local regulatory authorities announced a comprehensive ban on cryptocurrency trading in 2021.

However, several media reports speculate that with the increasing adoption rate of cryptocurrencies in the Hong Kong region and the global wave of cryptocurrency development driven by the pro-crypto policies of President Donald Trump’s administration, China may reconsider its stance on cryptocurrency regulation.

Despite the claims from mainland China to “lift the ban on Bitcoin”, some analysts express skepticism because, in fact, even after the ban was imposed, China still maintains its position as a major player in Bitcoin mining globally.

Cointelegraph reached out to DDC for official comments regarding the Bitcoin reserve plan, but as of the time of publication, no response has been received.

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