DDC, a Hong Kong food company, just bought 21 BTC ($2.28M), announced big plans (wants 5,000 BTC in three years), and the market nuked their stock (down 14.5% in a day). Compare that to MicroStrategy, which has gone full Bitcoin company with 580250 BTC and seen their shares run circles around the S&P500, and DigiAsia, a fintech out of Asia, which got an 80-130% stock pop on similar news.
Why? It seems that the market now sees through BTC as PR. If you’re a fintech or tech company, and you announce a credible, strategic BTC plan, market says “OK, this fits". If you’re a food company burning cash and using shareholders to get Bitcoin, market says nope. Markets just aren’t rewarding FOMO-driven, non-core moves. There’s now a credibility discount for companies outside tech/finance. Old-economy companies (food, cars, retail) are expected to have a real business, not just add Bitcoin and hope for magic. They get punished for that, for bad timing (like DDC buying near ATH), and for not integrating BTC with what they actually do.
Also, what’s up with the region bias? HK and China are trying to be crypto hubs, but if you’re listed in the US and have China ops, market still sees regulatory risk. Japanese companies like Metaplanet? Loved. US fintechs? Rewarded. Everyone else: “try again".
Why? It seems that the market now sees through BTC as PR. If you’re a fintech or tech company, and you announce a credible, strategic BTC plan, market says “OK, this fits". If you’re a food company burning cash and using shareholders to get Bitcoin, market says nope. Markets just aren’t rewarding FOMO-driven, non-core moves. There’s now a credibility discount for companies outside tech/finance. Old-economy companies (food, cars, retail) are expected to have a real business, not just add Bitcoin and hope for magic. They get punished for that, for bad timing (like DDC buying near ATH), and for not integrating BTC with what they actually do.
Also, what’s up with the region bias? HK and China are trying to be crypto hubs, but if you’re listed in the US and have China ops, market still sees regulatory risk. Japanese companies like Metaplanet? Loved. US fintechs? Rewarded. Everyone else: “try again".
Several companies around the world are making this move to buy Bitcoin, but many have no idea what they're doing. Either the company uses Bitcoin and understands its value, or it's just another one trying to monetize its stock market presence. Investors can tell who truly supports Bitcoin and separate the wheat from the chaff.