Mega Matrix enters cryptocurrency space; purchases 12 BTC worth $1.27 million

By Shubhangi Chowdhury

Streaming company Mega Matrix has officially entered the cryptocurrency space with the purchase of 12 Bitcoins, totaling approximately $1.27 million. The company announced this purchase on Wednesday at an average price of approximately $105,554 per bitcoin, including fees and expenses, since the end of May.

“Our acquisition of Bitcoins is an execution of our strategic decision to adopt BTC as a treasury reserve asset, reinforcing our commitment to diversification and value creation,” said Yucheng Hu, Chief Executive Officer of MPU.

Mega Matrix is a holding company that owns and operates FlexTV — a short-video streaming platform best known for its bite-sized dramas. Yuder Pte. Ltd owns it through subsidiary. The company is incorporated in the Cayman Islands and runs its operations out of its headquarters in Singapore.

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The streaming platform had previously announced that it would allocate a portion of its treasury to Bitcoin and Ethereum—mirroring a growing movement among forward-thinking firms. By joining names like Strategy, SharpLink Gaming and GameStop, Mega Matrix signals serious financial innovation—not just cash hoarding.

Strategy continued its aggressive Bitcoin acquisition strategy, purchasing approximately 7,390 BTC for $764.9 million, bringing its total holdings to around 576,230 BTC, worth over $59 billion while GameStop made waves by acquiring 4,710 BTC (valued at approximately $506–$513 million) at the end of May, marking its first major entry into Bitcoin treasury strategy.

In recent months, a diverse set of publicly traded firms—spanning finance, tech, real estate, and fintech—have announced their first-time Bitcoin purchases effectively rebranding themselves as “Bitcoin treasury” companies.

Sydney-based Belgravia Hartford Capital entered the market in early June by buying its inaugural 4.86 BTC using a newly drawn $5 million credit facility. Around the same time, BitMine Immersion Technologies declared its first open-market Bitcoin purchase of 100 BTC, funded through a recent share issuance. The Blockchain Group also made headlines by adding 580 BTC to bring its holdings to 620 BTC, marking the firm’s third and largest Bitcoin purchase.

READ: Cantor, SoftBank, Tether enter a partnership to form a $3.6 billion crypto venture (April 24, 2025)

Even Norway’s NBX, the country’s first public Bitcoin treasury, joined in early June with 6 BTC and plans to ramp up to 10 BTC within the month. “NBX will not sell this Bitcoin or go short in any form,” the company said. “With reference to the latest POA notice with LDA capital, NBX will also use proceeds to buy additional Bitcoin,” the company stated in the announcement.

Earlier this year, Méliuz became Brazil’s first company to officially adopt Bitcoin as part of its treasury strategy. The company made headlines in May by boosting its Bitcoin holdings with a fresh purchase of 274.5 BTC—worth about R$160.8 million (roughly $30.5 million). That puts their average buy price at $103,600 per Bitcoin.

These moves reflect a strategic move that companies are viewing Bitcoin as a hedge against inflation and a high-growth asset. With holding Bitcoin on the balance sheet, tapping into Ethereum’s staking potential, or exploring blockchain-based services, cryptocurrency is starting to show up in boardroom conversations as part of the bigger financial strategy of the companies.