Shares of Nasdaq-listed GD Culture Group Limited plummeted 28% in trading after the company announced a significant acquisition involving Bitcoin. The livestreaming firm has entered into an agreement to acquire 7,500 Bitcoin from Pallas Capital in a deal valued at approximately $875 million. The transaction structure involves GD Culture exchanging tens of millions of its own shares to complete the acquisition, representing a substantial strategic shift for the company traditionally focused on digital entertainment services. Market analysts have expressed concerns about the valuation methodology and the dilution effect on existing shareholders. The dramatic price movement reflects investor skepticism about the company’s sudden pivot into digital asset acquisition and the financial engineering behind the share-based transaction. This development marks one of the largest corporate Bitcoin acquisitions in recent months and highlights the ongoing trend of companies diversifying into cryptocurrency holdings, though market reception to such moves remains mixed based on fundamental analysis and shareholder value considerations.
