K Wave Media Inc.(KWM), the first Korean media alliance listed on Nasdaq, has announced plans to raise up to $500 million in stock sales to fund bitcoin purchases.
\"K Wave is looking to be the \'Metaplanet of Korea,\" said the company in a translated statement. \"The Company believes a similar model — combining public market access with a focused Bitcoin treasury initiative — will resonate with investors across Asia and the globe.\"
K Wave said it intends to use the capital not only to acquire and hold bitcoin long-term, but also to operate Lightning Network nodes and invest in bitcoin-native infrastructure for yield optimization and decentralized transaction rewards.
KWM is higher by 155% in premarket trading.