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South Korea’s publicly listed company Bitplanet has officially begun its daily Bitcoin accumulation plan, marking a historic step as the first Korean public firm to buy Bitcoin as part of its corporate treasury strategy. The company, backed by Metaplanet CEO Simon Gerovich and Sora Ventures, purchased 93 BTC on Sunday, kicking off a broader plan to amass 10,000 BTC using $40 million in fresh capital.
According to Bitplanet, the purchases are being conducted through a regulated and compliant infrastructure, ensuring transparency and alignment with Korea’s financial oversight standards.
Backed by Metaplanet and Sora Ventures
Bitplanet’s Bitcoin accumulation strategy follows the model popularized by Metaplanet, a Tokyo-listed firm that recently became one of the top five public Bitcoin holders globally. Metaplanet’s CEO Simon Gerovich has reportedly played a key role in supporting Bitplanet’s transition into a Bitcoin-focused treasury company.
The firm is also backed by Sora Ventures, a digital asset investment company actively building a network of Bitcoin-treasury-focused firms across Asia.
Bitplanet’s co-CEO Paul Lee explained that the initiative represents “legitimate and prudent risk management” for the company’s long-term capital allocation. He noted that Bitplanet had already been accumulating Bitcoin daily for nearly two weeks before making the plan public and that all transactions were disclosed to regulators through a Financial Services Commission (FSC) monitoring platform.
Bitcoin Market Strengthens Amid Macro Tailwinds
Bitplanet’s move comes at a time when Bitcoin is regaining market strength following a volatile start to October. After a $19 billion market liquidation earlier this month, Bitcoin prices have rebounded about 6.7% over the past week, climbing to $115,200, according to CoinGecko.
The rally was supported by softer U.S. inflation data, which has fueled speculation that the Federal Reserve could cut interest rates as early as December.
In addition, Bitcoin and Ethereum ETFs have seen strong capital inflows — reversing previous outflows — with over $600 million entering the market in the past week.
Analysts believe this renewed liquidity, coupled with institutional adoption by firms like Bitplanet, may help sustain Bitcoin’s current upward momentum.
From Legacy Tech to Bitcoin Treasury
Bitplanet’s transformation marks a dramatic pivot from its roots as a legacy IT and cybersecurity provider. Formerly known as SGA Co., Ltd., the company was listed on KOSDAQ under ticker 049470 and reported ₩75.5 billion ($55 million) in annual revenue and ₩4.7 billion ($3.4 million) in net income over the past twelve months.
In August 2025, Bitplanet announced a rebrand and strategic shift from IT services to Bitcoin treasury management, backed by new institutional investors. The company aims to position itself as Asia’s leading publicly traded Bitcoin treasury firm, following Metaplanet’s successful blueprint in Japan.
Aside from its operational pivot, Bitplanet has overhauled its governance and compliance systems, aligning with Korea’s evolving crypto regulatory framework.
Regulatory Outlook: Preparing for Korea’s Digital Asset Law
South Korea’s Digital Asset Basic Act (DABA), introduced in June 2025, is set to take effect in 2027, creating comprehensive guidelines for token issuance, custody, and corporate crypto holdings.
Paul Lee said Bitplanet has been proactively aligning with upcoming regulations. “We already operate under stricter interpretations of current FSC guidance to ensure a smooth transition once DABA takes effect,” he explained.
This proactive approach, he added, reflects the firm’s commitment to maintaining transparency and trust as it builds a large-scale Bitcoin reserve.
Building Asia’s Bitcoin Treasury Ecosystem
Bitplanet’s move adds momentum to a growing wave of Asian public firms accumulating Bitcoin as a balance-sheet asset. Simon Gerovich and his affiliates at Metaplanet have already facilitated similar acquisitions in Japan and Thailand, signaling a coordinated effort to advance Bitcoin adoption at the corporate level.
Metaplanet itself recently reached 85% of its 2025 Bitcoin target, purchasing over 25,555 BTC valued at nearly $2.9 billion, becoming the fifth-largest corporate Bitcoin holder worldwide.
With Bitplanet joining this emerging movement, Asia appears poised to play a leading role in corporate Bitcoin accumulation, rivaling North American firms like MicroStrategy in strategy and ambition.
