CPOP Adds $33M in Bitcoin; Treasury Move Spurs 56% Stock Spike, Then Pullback

Chinese entertainment company CPOP has acquired 300 Bitcoin worth $33 million for its new crypto treasury fund. Following Tuesday’s announcement, the company’s stock surged 56% from $1.35 to $2.11 before retreating to $1.56 amid broader market volatility. This latest acquisition follows CPOP’s July announcement of plans to enter crypto markets, which initially drove shares up 270% from around $0.50 as investors anticipated the company’s digital asset shift. Pop Culture Group Co., Ltd. has established wh ...