• DDC shares jumped over 23% at market open, but retail sentiment on Stocktwits remained in 'bearish' territory.
• Other DAT firms, including FG Nexus, ETHZilla, and Sharplink, are funding stock buybacks amid losses in Bitcoin and Ethereum.
• DDC CEO said the company plans to rely on strong governance and risk-management practices to guide investment decisions.

Shares of DDC Enterprise (DDC) soared in morning trade on Wednesday after the company announced that it had added another 100 Bitcoin (BTC) to its treasury. 

With the new acquisition, DDC's total Bitcoin holdings now stand at 1,183 BTC. DDC's stock was up more than 23% at the opening bell. On Stocktwits, retail sentiment around the company remained in 'bearish' territory over the past day, as chatter rose to 'high' from 'low' levels. 

DAT Companies Under Pressure

The announcement comes at a time when several digital asset treasury (DAT) firms have been adjusting their portfolios in response to Bitcoin's decline from over $126,000 in October to around $80,000 earlier this month. 

FG Nexus (FGNX) began stock buybacks funded by borrowing $10 million and selling 10,922 ETH. ETHZilla (ETHZ) sold roughly $40 million in Ethereum last month as part of its own repurchase program, and Sharplink (SBET) launched a buyback program in September rather than accumulating more ETH.

Norma Chu, the founder, chairwoman and CEO of DDC, said the company was making a long-term play.“Rather than responding to day-to-day price fluctuations, we rely on our robust governance and risk-management capabilities to guide when and how we deploy capital,” she stated.

Bitcoin's price was trading at $87,200 on Wednesday morning, up 0.5% over the last 24 hours. Retail sentiment around BTC on Stocktwits fell to 'bearish' from 'neutral' over the past day, accompanied by chatter at 'high' levels.

Investor Concerns 

10x Research CEO Markus Thielen said last week that these treasury firms could face challenges attracting new retail investors while existing shareholders sit on billions in losses. 

According to the firm's estimates, Strategy (MSTR) investors have lost an estimated $20 billion in net asset value (NAV) due to late-2024 Bitcoin purchases, and BitMine's (BMNR) Ethereum holdings are down over $1,000 per coin, amounting to $3.7 billion in unrealized losses before considering NAV premiums.

Read also: Bitcoin, XRP, ADA Struggle Ahead Of Thanksgiving – Analyst Warns There's No Clear Catalyst For Q4

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