Bitplanet Initiates Ambitious Bitcoin Accumulation Strategy
By: Isha Das
Bitplanet Inc., a leading publicly traded firm in South Korea, has made a significant step into the world of cryptocurrency by initiating a daily Bitcoin buying program, marking a notable precedent for public-market adoption of Bitcoin in Korea. Recently, the Seoul-based company purchased 93 BTC, marking its first purchase executed through regulated and compliant infrastructure. The new acquisition is part of Bitplanet's broader strategy to incorporate Bitcoin as a core component of its corporate treasury.
Paul Lee, Co-CEO of Bitplanet, emphasized the company's ambition to set a new benchmark for transparent and institutional-grade corporate Bitcoin adoption within Asia's rapidly evolving digital asset landscape. Instead of a one-time market move, Bitplanet's program is a rules-based long-term initiative designed to mitigate timing risks and establish Bitcoin as a strategic treasury reserve asset. Their goal is to accumulate an impressive 10,000 BTC over time.
To support this ambitious treasury project, Bitplanet has raised $40 million in fresh capital intended to fund ongoing Bitcoin accumulation. The company's strategic financial planning aims to strengthen its balance sheet, equipping it to adapt to evolving market conditions. This initiative is backed by a coalition of investors from both the digital asset and traditional finance sectors, including notable names like Simon Gerovich of Metaplanet and Sora Ventures.
Formerly known as SGA Inc., Bitplanet stands as Korea's first KOSDAQ-listed institutional Bitcoin treasury company. It prides itself on an IT services foundation, with a focus on compliance, risk management, and financial engineering. Such a foundation is critical for paving the way for more corporate entities to engage in transparent, regulated Bitcoin adoption. By establishing such a structured approach to cryptocurrency accumulation, Bitplanet seeks to become a regional champion and reference point in institutional Bitcoin treasury management.
