Korean Entertainment Giant K Wave Media Soars on $500M Bitcoin Treasury Bet

K Wave Media Soars 155% on $500M Bitcoin Reserve Strategy Modeled After Metaplanet

K Wave Media Inc., South Korea’s first Nasdaq-listed media consortium, surged 155% in pre-market trading after unveiling plans to raise up to $500 million to build a bitcoin-focused corporate treasury.

The company said proceeds from the stock offering will be used to accumulate bitcoin, operate Lightning Network nodes, and invest in decentralized infrastructure, with the goal of enhancing long-term asset yield and utility.

Labeling itself “the Metaplanet of Korea,” K Wave Media is following in the footsteps of Japan’s Metaplanet Inc., which has gained attention for converting its balance sheet into a bitcoin-dominant reserve.

With institutional interest in digital assets accelerating, K Wave’s move positions the company as a forward-leaning player at the intersection of media, capital markets, and crypto infrastructure.

Investors quickly embraced the pivot, sending the stock sharply higher as the market priced in the firm’s aggressive entry into bitcoin’s financial ecosystem.