GD Culture Shares Drop 28% After Bitcoin Acquisition Deal With Pallas Capital

Group 1 - GD Culture Group (GDC) experienced a significant share price drop of 28.16% following a Bitcoin acquisition deal, marking its largest decline in over 12 months [2][3] - The company's market capitalization fell to $117.4 million, representing a 97% decrease from its all-time high of $235.80 recorded on February 19, 2021 [2][4] - GDC plans to issue approximately 39.2 million shares to acquire 7,500 BTC from Pallas Capital, which includes $875.4 million worth of Bitcoin [3][4] Group 2 - The decline in GDC's share price is attributed to the dilution of shares, which typically reduces existing shareholders' ownership percentages [5] - Despite the setback, the company remains committed to acquiring more Bitcoin through the sale of its common stock [5] - GD Culture has become the 14th largest publicly listed Bitcoin holder, reflecting a growing trend of companies accumulating cryptocurrency [6]