In a significant move within the cryptocurrency space, South Korea’s publicly listed Bitplanet has commenced its daily Bitcoin accumulation strategy, recently acquiring 93 BTC. This purchase marks the first step in an ambitious plan to establish a robust treasury of 10,000 Bitcoin, a goal backed by fresh funding amounting to $40 million. The initiative also coincides with a rebranding effort for the company, which is supported by notable investors, including Metaplanet CEO Simon Gerovich.
Executed through a compliant and regulated infrastructure, Bitplanet’s acquisition is positioned as the inaugural Bitcoin purchase by a public company in Korea. The announcement of this strategy at Bitcoin Asia 2025 in late August revealed that Bitplanet had already been acquiring Bitcoin daily for two weeks prior, providing full disclosure of these activities via a compliance monitoring platform overseen by Korea’s Financial Services Commission.
While discussing the rationale behind this strategy, Bitplanet co-CEO Paul Lee emphasized that it allows for “legitimate and prudent risk management” regarding their Bitcoin acquisitions. He highlighted that the company had made substantial improvements to its governance structure and enhanced investment and capital management processes over the past month.
As Bitcoin experiences a resurgence, climbing approximately 6.7% in the past week to reach around $115,200, Bitplanet’s decision to accumulate Bitcoin resonates with the current bullish sentiment in the market. This surge follows a $19 billion decrease in leveraged positions earlier in the month. The price gains were notably supported by softer-than-expected U.S. inflation data released last Friday, which has led to speculation regarding potential interest rate cuts by the Federal Reserve in December. Furthermore, there has been a shift in the market for Bitcoin and Ethereum exchange-traded funds, with over $600 million in inflows reported in the past week, reversing a trend of outflows.
Originally founded in 1997, Bitplanet transitioned from its legacy IT services under SGA Co., Ltd., rebranding to adopt a dedicated Bitcoin-treasury model. The company, listed on KOSDAQ, reported trailing twelve-month revenues of approximately ₩75.5 billion (around $55 million) and a net income of ₩4.7 billion (about $3.4 million), illustrating a relatively stable operational core.
The investor landscape includes Sora Ventures, which is actively working on creating a consortium of public companies across Asia focused on developing digital asset treasuries, despite some resistance from major regional stock exchanges. Additionally, South Korea’s Digital Asset Basic Act, set to take effect by 2027, aims to establish unified standards for token issuance, custody, and corporate crypto holdings. In anticipation of these regulatory developments, Lee mentioned that Bitplanet is already operating under a “stricter interpretation of current FSC guidance,” preparing to meet or exceed upcoming regulatory standards.
As Bitplanet continues its accumulation strategy, the cryptocurrency community will be closely observing the company’s next steps and how they navigate both market conditions and regulatory landscapes in their pursuit of becoming a leading player in the digital asset treasury space.
