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The board of directors for GD Culture Group (GDC), a publicly listed holding company focused on digital marketing and AI, on Wednesday authorized the company to sell Bitcoin ($BTC) from its corporate treasury to pay for a share buyback program.
The move appears to be a reversal of a May 2025 decision to build a cryptocurrency reserve of Bitcoin and Official Trump Coin (TRUMP).
Wednesday’s authorization allows the company to sell the $BTC from its treasury in “one or more transactions,” and the company is not under an obligation to sell any amount of $BTC, according to GDC’s announcement
In February, the company announced a stock buyback program of up to $100 million of its shares for a period of six months.
Shares of GDC traded up more than 24% by Wednesday’s close at $4.13 apiece, according to Yahoo Finance.
The announcement came amid a broad crypto market downturn, which dragged the price of $BTC down as low as $60,000, more than 50% from its all-time high above $126,000; the market rout has negatively impacted Bitcoin treasury companies.
GDC climbs the treasury ranks in a matter of months, but entered near the market top
GDC purchased 7,500 $BTC through an $875 million acquisition of Pallas Capital Holding in September 2025, when $BTC was trading between $109,000 and $117,000. Shares of the company plunged about 28% in response to the deal.
GDC is the 15th largest $BTC treasury company by Bitcoin holdings, according to data from BitcoinTreasuries, but is down about 41% on its $BTC investment.
The company has a multiple on net asset value (mNAV) of 0.42; mNAV is a critical metric for Bitcoin treasury companies, calculated by dividing the market capitalization of the company by the dollar value of its $BTC holdings.
Despite the market drawdown, the company’s 7,500 $BTC treasury is valued at about $517.5 million using the market price at the time of publication; this is more than double GDC’s market cap of about $236.7 million, following today’s stock surge.
cryptoslate.com
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