GD Culture, a publicly traded company focused on artificial intelligence and livestreaming, plans to sell part of its 7,500 Bitcoin holdings to fund a $100 million share buyback program. This decision follows board approval to intermittently repurchase shares over the next six months by utilizing proceeds from Bitcoin sales. The company’s shares rose 15% on the announcement, although they remain down 60% from their 52-week high. GD Culture had acquired the Bitcoin last fall through a share agreement with Pallas Capital. This move echoes a broader trend among publicly traded firms that have strategically sold cryptocurrency reserves, such as Bitcoin or Ethereum, to fund share repurchases as a way to enhance stock performance and shareholder returns.
GD Culture considers selling Bitcoin to fund $100M share buyback
