Web3 company Animoca Brands signed a non-binding memorandum of understanding (MOU) with DayDayCook (DDC) Enterprise, a meal-prep and packaged food company that recently adopted a Bitcoin treasury strategy, to manage Animocas BTC holdings and generate a yield on those reserves.
Animoca will allocate up to $100 million in BTC as part of the deal, according to a joint announcement from Thursday.
Animoca Brands co-founder and executive chairman Yat Siu told Cointelegraph that DDC Enterprise was chosen in part because of CEO Norma Chu and her ability to cultivate a substantial non-crypto following, introducing the asset sector to the general public, which may not have had an interest in crypto otherwise. Siu also said:
Her background and her experience enable Norma to bridge the East and West to successfully navigate markets on both sides of the planet; she has good appeal and connections to the Chinese market, one of the largest for crypto adoption, while also running a NASDAQ-listed company.
DDC Enterprise tipped its Bitcoin treasury plans in May, setting a goal to buy 5,000 BTC over three years. That same month, the company purchased 21 BTC for its corporate treasury.
The top 60 publicly-traded Bitcoin treasury companies. Source: BitcoinTreasuries 
The Bitcoin treasury narrative continues to gain traction, as corporations adopt the supply-capped asset as a hedge against inflation, and, in some cases, reorient themselves to become Bitcoin holding companies.
The proliferation of Bitcoin treasury firms has left investors divided about the effects of these companies on the market, with some arguing it will boost mainstream adoption and others warning that overleveraged BTC companies could trigger the next market meltdown.
Related: Bitcoin treasury playbook faces far shorter lifespan Analyst
Bitcoin Treasury Strategy becomes a top trend in 2025
There are currently 268 institutions holding BTC on their balance sheets, including public companies, private enterprises, government organizations, asset managers, and crypto firms, according to BitcoinTreasuries.
Public companies account for 147 of these 268 institutions, making them the largest category of institutional Bitcoin holders by a wide margin.
