DDC Enterprise Limited’s Bitcoin holdings now exceed two-and-a-half times its market capitalization, highlighting a widening disconnect between the Hong Kong-based company’s crypto treasury and its public valuation after months of steady accumulation.
Bitcoin Treasury Now Exceeds Market Cap
DDC Enterprise Limited, a global Asian food platform with a growing digital asset arm, holds approximately 2,383 BTC valued around $165 million at recent prices. By comparison, the company’s stock market capitalization is about $66 million. The gap has expanded as DDC continued to add Bitcoin week after week in 2026.
Steady Accumulation in 2026
The company has added roughly 1,200 BTC since January 2026, more than doubling its stash from the start of the year. Early in January, purchases averaged about 200 BTC per week, slowing to around 100 BTC per week through February. The latest buy, announced on March 19, added 200 BTC at an average price of $79,969 per coin, bringing total holdings to 2,383 BTC.
DDC’s year-to-date “BTC yield” — its internal metric tracking Bitcoin growth per share — is near 50%. The company says it now ranks 32nd among publicly traded firms holding Bitcoin globally. “Every additional Bitcoin we add is a statement about where we think long-term value is heading,” CEO and founder Norma Chu said in the announcement.
Funding Strategy and Missed Target
DDC previously set a goal of holding 10,000 BTC by the end of 2025 but closed last year with 1,183 BTC, falling short of that target. To fund purchases, the company has leaned on stock sales and equity raises rather than operating cash flow from its food business. In mid-2025, DDC filed with the U.S. Securities and Exchange Commission to raise up to $528 million, with most of the proceeds intended for Bitcoin acquisitions.
Market Context and Outlook
Bitcoin has pulled back from its October 2025 all-time high near $126,000. During early trading on Thursday, the token dipped to about $68,800 before recovering to roughly $70,244. Despite the volatility, DDC has continued to buy, aligning with a broader trend of smaller public companies adding Bitcoin to corporate treasuries following playbooks established by larger holders.
DDC maintains that Bitcoin complements its core food operations and intends to hold through market swings, even as the value of its crypto reserves increasingly overshadows the company’s current equity valuation.