TL;DR:
- Bitplanet becomes South Korea’s first public firm to launch a 10,000 BTC treasury strategy.
- The company follows strict FSC compliance backed by Metaplanet and Sora Ventures.
- Asia strengthens its lead in corporate Bitcoin adoption and institutional accumulation.
South Korea’s Bitplanet has made history with its first Bitcoin treasury purchase, acquiring 93 BTC as part of a $40 million plan to accumulate 10,000 BTC. This marks the first Bitcoin reserve ever created by a publicly listed Korean company, positioning Bitplanet as a trailblazer in Asia’s accelerating wave of corporate crypto adoption.
From IT Legacy to Digital Asset Vanguard
Bitplanet’s strategic transformation signals a radical corporate reinvention. Formerly SGA Co., Ltd., the firm shifted from providing cybersecurity and IT infrastructure to building a regulated Bitcoin treasury model. With annual revenue of ₩75.5 billion ($55 million) and net income of ₩4.7 billion ($3.4 million), Bitplanet demonstrates solid fundamentals as it embarks on this pivot.
Backed by Metaplanet CEO Simon Gerovich and Sora Ventures, the company began daily BTC purchases two weeks prior to its official announcement. Co-CEO Paul Lee highlighted “materially improved” governance and compliance mechanisms aligned with the upcoming Digital Asset Basic Act, which will regulate crypto custody, token issuance, and corporate holdings. By adhering to a stricter interpretation of these rules, Bitplanet aims to become South Korea’s compliance benchmark for digital asset treasuries.
Asia is rapidly emerging as the epicenter of corporate Bitcoin accumulation. Sora Ventures launched a $200 million Bitcoin treasury fund in September with a goal of $1 billion within six months, supporting pioneers such as Japan’s Metaplanet, Hong Kong’s Moon Inc., and now South Korea’s Bitplanet. Japan leads the charge, with Metaplanet’s holdings surpassing 30,000 BTC valued at over $3.5 billion.
Regional institutional appetite continues to grow, with family offices in Singapore and China allocating portions of their portfolios to crypto. As Bitcoin climbs 3.7% this week to $115,200, Bitplanet’s entry amplifies confidence in Bitcoin as a strategic reserve asset, reinforcing Asia’s pivotal role in the next chapter of global corporate adoption.
