China-Linked Consumer Brand DayDayCook Plans to Acquire 5,000 Bitcoin Over Three Years

DayDayCook (DDC), a US-listed consumer brand with deep roots in Hong Kong and operational ties to mainland China, has launched an ambitious Bitcoin reserve strategy, marking a significant move by a China-linked company in the digital asset space.

In a May 15 shareholder letter, DDC CEO Norma Chu announced the company’s plan to accumulate 5,000 Bitcoin (BTC) over the next 36 months. As part of this strategy, DDC has already acquired 100 BTC, valued at approximately $10.4 million. The firm aims to hold 500 BTC by the end of 2025.

This initiative follows a strong financial year for DDC, with a 33% increase in annual revenue in 2024, totaling 273.3 million Chinese yuan (about $37.4 million), according to the company’s Form 20-F filing with the U.S. Securities and Exchange Commission (SEC).

Source: Norma Chu

However, the Bitcoin reserve strategy was notably absent from DDC’s SEC filings. The documents did not explicitly mention any digital asset holdings, though they hinted at future diversification efforts and cost-saving strategies to support growth. The report states DDC is exploring funding strategies for future operations and evaluating ways to diversify revenue streams.

“We are embarking on a pioneering initiative to position DDC at the forefront of digital asset innovation with laser-focused execution on Bitcoin accumulation,” Chu wrote in the shareholder letter. This statement builds on a similar announcement she made in March.

The filing also references new accounting guidelines from the Financial Accounting Standards Board (FASB), specifically ASU 2023-08, which allows firms to adopt early crypto asset reporting practices if their financials haven't yet been released. This could explain the absence of Bitcoin-related disclosures in DDC’s latest annual report.

An excerpt from the DDC’s F-20 annual report. Source: SEC

A Sign of China’s Shifting Crypto Dynamics?

DDC’s move is particularly notable given its operations in mainland China, where cryptocurrency trading and mining have been officially banned since 2021. Despite this, mainland China has remained a significant player in the global Bitcoin mining sector and continues to exert influence in the crypto ecosystem.

Speculation has grown around a potential easing of China’s crypto restrictions, especially as Hong Kong advances its position as a regional crypto hub and global sentiment toward digital assets continues to evolve. The current administration in the United States has also taken a more crypto-friendly stance, adding momentum to institutional interest worldwide.

Bitcoin mining map by countries as of January 2022. Source: CBECI

While no official policy shift has occurred in Beijing, DDC’s decision may signal increasing confidence among businesses operating in the region to engage with Bitcoin, at least on a treasury and reserve level.

As of now, DDC has not publicly responded to inquiries about its Bitcoin strategy, but the firm’s actions suggest it is positioning itself to benefit from the long-term potential of digital assets — even amid regulatory uncertainty in its home markets.