K Wave Media, a publicly listed company in the US, has secured $1 billion in funding to advance its Bitcoin strategy and has purchased 88 Bitcoins

ChainCatcher news, according to GlobeNewswire, K Wave Media (NASDAQ: KWM) today announced a $500 million convertible note agreement with Anson Funds, along with a previously reached $500 million standby equity purchase agreement with Bitcoin Strategic Reserve, bringing its total capital capacity to $1 billion.

The company has completed the purchase of the first batch of 88 bitcoins and plans to use at least 80% of the net proceeds from the financing for bitcoin acquisitions, with the goal of expanding to 10,000 bitcoins as soon as possible.