GD Culture Group bitcoin holdings
Acquired its entire 7,500 coin position in a single share for coin swap, then spent the next year sitting on a loss of nearly half a billion dollars.
Key figures
- Bitcoin held
- 7,500 BTC
- As of
- 2026-08-13
- Rank
- 16 of 165
- Value at current price
- $473.7M
- Share of 21 million
- 0.04%
- Average cost
- $112,201 per BTC
Holdings over time
Cumulative bitcoin held after each disclosed event. The line steps rather than slopes because treasury positions change on purchase dates, not continuously.
Only a few disclosures are on file so far. The line joins the points we can source, and grows as more are published.
We do not yet have enough dated market cap points for GD Culture Group to chart its valuation history. Rather than interpolate, we leave it out until the figures are filled in.
Every disclosure we have
| Date | Event | Change | Total held | Note | Source |
|---|---|---|---|---|---|
| 2026-06-30 | Reported | 7,500 | Second quarter 2026 Form 10-Q: holdings unchanged at 7,500 bitcoin, fair value about $451 million, with a $212 million loss recognised across the half year. | sec.gov | |
| 2026-03-31 | Reported | 7,500 | First quarter 2026 Form 10-Q: 7,500 bitcoin at a cost of $842 million, fair value about $501 million, held through the acquired Pallas entity. | sec.gov |
About GD Culture Group
GD Culture Group did not buy its bitcoin. In September 2025 it agreed to acquire Pallas Capital Holding, a private entity whose assets were 7,500 BTC, in exchange for 39,189,344 newly issued shares. The coins arrived in one transaction, funded entirely with equity rather than cash, and the stock fell about 28 percent the day the market read the dilution.
The operating business underneath is small. GD Culture builds AI-driven digital humans and runs livestream commerce, largely on TikTok, through subsidiaries AI Catalysis and Shanghai Xianzhui. In March 2025 Nasdaq notified it that its stockholders equity had fallen below the listing requirement, at which point the company reported equity of $2,643.
The position has been expensive. Its Q2 2026 filing carries the 7,500 coins at a cost of $842 million against a fair value of $451 million, and the company recognised a $212 million loss on them across the first half of 2026 alone. In February 2026 the board authorised selling part of the stack to fund a share buyback of up to $100 million, reversing the accumulation thesis it had announced nine months earlier.
Frequently asked questions
Why does GD Culture's bitcoin cost so much more than it is worth?
The whole position was acquired at once in September 2025, when bitcoin traded near $116,900, and valued at about $842 million. Bitcoin has traded well below that for most of the period since, so the coins were carried at $451 million at 30 June 2026 without the company having sold anything.
Compared with its neighbours
Sources
Holdings figures and their dates come from the disclosures linked in the history table above. Read the full methodology.