PANews reported on June 5 that according to The Block, Nasdaq-listed K-Pop media company K Wave Media (code KWM) announced yesterday that it would sell up to $500 million in stock to purchase Bitcoin for mergers and acquisitions and other operational purposes . KWM's stock price rose 132.39% that day. The company said it would hold and optimize BTC returns for a long time, and its strategic inspiration came in part from Japan's Metaplanet and MicroStrategy. K Wave is one of the first media listed companies to incorporate Bitcoin into its core financial strategy.