Finance

Bitplanet’s Bitcoin Blitz: How a South Korean Firm Is Aiming for a 10,000 BTC Treasure

Bitplanet, a Korean firm, started daily Bitcoin buys, aiming for a 10,000 BTC treasury.

byAndres Castro

October 26, 2025, 11:48 PM

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Executive Summary

South Korean publicly listed company Bitplanet has initiated its Bitcoin accumulation strategy, acquiring 93 BTC as part of a larger goal to establish a 10,000 Bitcoin treasury.

Bitplanet, formerly SGA Co., Ltd., has rebranded and transitioned from an IT services firm to a dedicated Bitcoin-treasury model, becoming the first public Korean firm to pursue such a program under a regulated framework.

This strategic shift coincides with a recovering cryptocurrency market, driven by favorable macroeconomic indicators and increased ETF inflows, and is being conducted under strict regulatory guidance in anticipation of South Korea’s Digital Asset Basic Act.

The Story So Far

Bitplanet, having rebranded from a legacy IT services firm to a dedicated Bitcoin-treasury model, is initiating its accumulation strategy to establish a 10,000 BTC reserve, positioning itself as the first public Korean firm to do so within a regulated framework, a move coinciding with a global cryptocurrency market rebound fueled by favorable macroeconomic indicators and increased ETF inflows, and undertaken with proactive governance improvements in anticipation of South Korea’s Digital Asset Basic Act.

Why This Matters

Bitplanet’s strategic pivot to a substantial Bitcoin treasury, as the first publicly listed Korean company to do so under a regulated framework, marks a significant step towards institutional Bitcoin adoption in South Korea. This move could set a precedent for other Asian public companies, potentially accelerating the integration of digital assets into traditional corporate finance across the region, while also signaling growing corporate confidence in the evolving regulatory landscape for cryptocurrencies.

Who Thinks What?

South Korean company Bitplanet, backed by CEO Simon Gerovich and co-CEO Paul Lee, is strategically accumulating Bitcoin, aiming for a 10,000 BTC treasury, and has rebranded to a dedicated Bitcoin-treasury model, proactively improving governance in anticipation of future South Korean regulations.

The global cryptocurrency market is experiencing a rebound, with Bitcoin recovering due to favorable macroeconomic indicators such as softer U.S. inflation data, which reinforces expectations for Federal Reserve interest rate cuts, and increased exchange-traded fund inflows.

Sora Ventures is actively establishing a consortium of public companies across Asia to focus on building digital asset treasuries, indicating a broader movement and support for corporate Bitcoin acquisition strategies.

South Korean publicly listed company Bitplanet has initiated its daily Bitcoin accumulation strategy, acquiring 93 BTC as part of a larger goal to establish a 10,000 Bitcoin treasury. This move comes as the global cryptocurrency market experiences a rebound, with Bitcoin recently recovering from earlier lows, buoyed by favorable macroeconomic indicators and increased exchange-traded fund (ETF) inflows.

Strategic Bitcoin Accumulation

The purchase of 93 BTC on Sunday marks the beginning of Bitplanet’s ambitious plan to build a substantial Bitcoin reserve. The company, backed by Metaplanet CEO Simon Gerovich, aims for a target of 10,000 BTC, positioning itself as the first public Korean firm to engage in such a Bitcoin acquisition program through a regulated framework.

Bitplanet initially unveiled its cryptocurrency acquisition strategy during Bitcoin Asia 2025 in late August, alongside a corporate rebranding. The company has allocated $40 million for future Bitcoin purchases, emphasizing a commitment to legitimate and prudent risk management in its digital asset endeavors.

Market Context and Regulatory Outlook

This strategic shift by Bitplanet coincides with Bitcoin regaining market momentum. The leading cryptocurrency has climbed approximately 6.7% over the past week, reaching around $115,200, a recovery from its recent low of $107,000. This upward trend is attributed to softer-than-expected U.S. inflation data, which has reinforced expectations for potential Federal Reserve interest rate cuts in December.

Furthermore, Bitcoin and Ethereum exchange-traded funds have seen a reversal of previous outflow trends, with more than $600 million flowing into the market in the past week.

Transition from IT Services

Formerly known as SGA Co., Ltd., a legacy IT services and systems-integration firm established in 1997, Bitplanet has rebranded and transitioned to a dedicated Bitcoin-treasury model. The company, listed on KOSDAQ as 049470, previously specialized in cybersecurity, network infrastructure, and embedded software for government and enterprise clients.

Beyond Gerovich’s involvement, Bitplanet’s leading investor, Sora Ventures, is also actively engaged in efforts to establish a consortium of public companies across Asia focused on building digital asset treasuries. Bitplanet co-CEO Paul Lee noted that the company has proactively improved its governance and investment processes, operating under a strict interpretation of current Financial Services Commission (FSC) guidance in anticipation of South Korea’s Digital Asset Basic Act, expected to take effect by 2027.