When Diamond Hands Turn to Paper: GD Culture Cashes Out Its Bitcoin Treasury for Stock Buybacks

The board of GD Culture Group (GDC) has decided that stonks, not rocks, are the new priority, authorizing the company to liquidate Bitcoin from its corporate treasury to fuel a stock buyback scheme.

This 180-degree pivot effectively undoes its May 2025 pledge to stack sats and TRUMP coins, proving that in corporate crypto, the only true HODL is the one that hasn't been tested by a red candle. The authorization gives GDC the green light to sell its BTC in "one or more transactions," a clause that basically translates to "we'll paper-hand at our own pace, thank you very much."

The move is designed to juice a stock buyback program announced back in February, which aims to vacuum up to $100 million worth of its own shares over half a year. The market's reaction to this financial sleight of hand? GDC shares mooned over 24% to close at $4.13, because nothing pumps a stock like the promise of buying it back with sold Bitcoin.

This strategic retreat was announced while the broader crypto market was busy visiting the depths of despair, with BTC briefly plumbing the $60,000 depths—a gut-wrenching 50%+ haircut from its all-time high above $126,000. This bearish bath has left corporate treasuries looking less like fortresses and more like leaky boats.

GDC originally joined the corporate Bitcoin club in style back in September 2025, acquiring a shiny 7,500 BTC through an $875 million deal for Pallas Capital Holding. At the time, BTC was cruising between $109k and $117k. The market's verdict on that big-brain acquisition? The company's stock immediately tanked about 28%, a classic case of "buy the rumor, sell the acquisition news."

According to the hallowed ledgers of BitcoinTreasuries, GDC currently sits as the 15th largest corporate BTC bag-holder. A prestigious ranking, albeit one where its initial investment is now down a cool 41%, proving that even corporate treasuries aren't immune to the perils of buying high.

The company's multiple on net asset value (mNAV)—the go-to metric for judging whether a Bitcoin treasury firm is a diamond or a dud—currently sits at a crispy 0.42. You get this number by dividing the company's market cap by the dollar value of its BTC hoard; a figure below 1.0 basically screams "the market thinks you're doing it wrong."

Despite the market-wide massacre, GDC's 7,500 BTC stash is still worth a hefty $517.5 million at today's prices. That's more than double the company's own market capitalization of roughly $236.7 million post-Wednesday's stock pump, a hilarious disconnect that highlights the absurdity of selling the asset to buy the liability.