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The first Bitcoin reserve company in Taiwan has been established! Dada Broadband / Dafeng Electric will become Taiwan's version of MicroStrategy?
Cable TV operator Dafeng Electric (6184) announced on the evening of the 13th that it would list bitcoin as a long-term reserve asset, becoming the first case in Taiwan and opening a new chapter for listed companies to embrace digital assets. (Synopsis: Cryptocurrency market cap hits an all-time high of $4.18 trillion!) Bitcoin alone accounts for 57%, Ethereum takes 13%) (Background supplement: Taiwan community reported a deposit disaster, many exchanges withdrew money without follow-up, SNS shouted "refuse to use Taiwan exchange") On the evening of August 13, Taiwan time, the board of directors of cable TV operator Dawa Broadband / Dafeng Electric (6184) passed a rare resolution: to include bitcoin as a long-term reserve asset. This is the first time that a Taiwanese listed company has written cryptocurrency into its financial strategy, and if the opening stock price on the 14th is incentive, it may bring a new entrance to digital asset management for Taiwanese listed companies. The transition from cash to bitcoin In the current environment of global inflation and repeated fluctuations in interest rates, companies need to consider the risk of loss of purchasing power when holding cash. Dafeng Power's board of directors has now chosen to use Bitcoin to disperse the pressure of cash, and on the same day, it established a "Digital Asset Committee", convened by director Dai Yonghui, to bring together risk management, legal, information security and strategy teams to keep an eye on volatility, storage security and the rhythm of information disclosure. A company spokesperson emphasized: "The inclusion of Bitcoin as a long-term asset is an important step for us to embrace the wave of the digital economy." At the same time, he also mentioned that the investment amount will be cut from daily working capital to ensure that core businesses such as network and bandwidth are not affected. Demonstration effect: what the capital market will look at next It is not clear how much money Dafeng Power will invest, but another core concern of the market is: can this step drive more listed companies in Taiwan to copy similar strategies? Previously, some brokerage researchers pointed out that if regulators subsequently issue clear guidelines on accounting classification, tax regulations and information disclosure, the cost of enterprises assessing the purchase of cryptocurrencies will decrease, and asset diversification may move to a new stage. However, he also warned that crypto assets are highly volatile, companies need to be able to take sufficient risks, and educate investors to understand the seasonal impact of crypto assets on financial reports. More intuitively, if the opening of Taiwan stocks on the 14th can encourage Dafeng Power's stock price to soar, then I believe that more listed companies will be eager to try to invest in Bitcoin. Dafeng Cable TV Co., Ltd. was established in March 1996 and listed on February 15, 2005, its main business is as follows: It operates cable TV systems in Banqiao, Tucheng, Zhonghe and other areas of New Taipei City, and later acquired and expanded to become one of the largest CATV operators in New Taipei City. Provides content from analog and digital TV channels, including public welfare, finance, entertainment, movies, news, cartoons and sports. Design, manufacture and repair of television receivers and transmitters, and sale of related set-top boxes, smart cards, equipment and materials. Promote diversified revenue sources such as broadband Internet access services, channel rental, advertising revenue, and optical fiber circuit rental. Related reports Tom Lee shouted that Bitcoin will look at $250,000 at the end of the year, why did the market turn to L2 projects such as Bitcoin Hyper? The rise of DAT digital vaults: from holding bitcoin to revenue management China's A-share aunts shout cryptocurrency: Bitcoin is digital gold, Ethereum is Web3 Huida, SOL is the blockchain casino leader "Taiwan's first bitcoin reserve company was born! Will Dafeng Broadband / Dafeng Power become a Taiwanese version of the micro-strategy? This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".