- Bitplanet is the first South Korean public firm to buy Bitcoin fully under local regulation.
- The company plans to build a 10,000 BTC treasury through daily regulated purchases.
- South Korea prepares for new crypto rules under the Digital Asset Basic Act by 2027.
Bitplanet Inc., listed on the KOSDAQ, has completed South Korea’s first fully regulated Bitcoin purchase by a public company. On October 26, the firm acquired 92.67 Bitcoin through a licensed domestic exchange. The holdings now total about 93 BTC, valued at roughly $10.9 million or 156.4 billion KRW.
Each Bitcoin was bought at an average price of $117,647. The company said the acquisition marks the beginning of a structured daily purchase plan aimed at long-term accumulation.
Treasury Strategy Targets 10,000 BTC
Bitplanet’s goal is to build a treasury of up to 10,000 BTC. The firm raised $40 million in September to support this ongoing strategy. Funds will be used to maintain regular Bitcoin purchases and adjust to changing market conditions. The approach focuses on gradual buying to manage timing risks rather than large one-time transactions. This method reflects a shift in corporate finance strategies among public firms in Asia. The company considers Bitcoin a key reserve asset within its balance sheet model.
Restructuring and Market Position
Earlier, Bitplanet launched South Korea’s first Bitcoin treasury with $ 40 million in equity funding. In September, Bitplanet completed the acquisition of SGA Co. Ltd. in a deal worth about $50 million. The move granted full ownership of its former subsidiary and marked a complete corporate restructuring. Bitplanet previously operated as an IT and cybersecurity company under the SGA name.
It has repositioned itself as a Bitcoin-focused treasury management firm. The company reported ₩75.5 billion ($55 million) in annual revenue and ₩4.7 billion ($3.4 million) in net income. Investors supporting the firm include Metaplanet’s Simon Gerovich, AsiaStrategy, Sora Ventures, UTXO Management, and Kingsway Capital.
Industry Context and Regulatory Outlook
Corporate Bitcoin adoption in Asia remains limited, especially under domestic regulatory regimes. Among major global holders, Japan’s Metaplanet leads in the region with over 30,000 BTC. In September, Metaplanet held over 20,000 Bitcoin worth more than $2B after its latest purchase. If Bitplanet reaches its 10,000 BTC goal, it could become the first South Korean company and the second major Asian firm to join top global holders.
The move coincides with South Korea’s introduction of the Digital Asset Basic Act in 2025. The law, set to take effect by 2027, will create unified rules for corporate crypto custody and reporting. Bitplanet has aligned its operations with existing financial regulations and continues to work under oversight from the Financial Services Commission.
Shares of Bitplanet closed at 1,932 KRW on October 26, rising 2.12% from the previous session. The company’s steady purchases highlight growing institutional interest in Bitcoin across Asia’s regulated markets.
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