GD Culture, a publicly traded company specializing in artificial intelligence and livestreaming, announced its decision to sell part of its substantial Bitcoin holdings, valued at approximately $518 million, to fund a $100 million share buyback program. This move, approved by the company’s board, is aligned with a broader corporate trend where firms are liquidating parts of their cryptocurrency reserves to support stock repurchase initiatives. In response to the announcement, GD Culture’s shares saw a 21% uptick, reflecting the positive short-term market reaction that often accompanies such strategies. The firm originally acquired its 7,500 Bitcoin as part of a deal with Pallas Capital last year, and while it is authorized to sell the entire amount, it retains the flexibility to adjust the sales as needed.
GD Culture may sell Bitcoin to fund $100M share buyback
