Bitplanet Inc. has purchased 93 BTC and initiated a daily Bitcoin buying program, positioning the company as a first mover in Korea’s public-market adoption of BTC for corporate treasuries. The Seoul-based firm says the transaction was executed entirely through regulated and compliant infrastructure.
“This transaction marks the first Bitcoin purchase by a publicly listed company in Korea executed entirely through regulated and compliant infrastructure,” said Paul Lee, Co-CEO of Bitplanet.
The company framed the new program as a rules-based, long-term strategy rather than a one-off buy. Management said it will accumulate BTC every day to reduce timing risk and to formalize Bitcoin as a strategic treasury reserve asset.
10,000 BTC target, $40 million in fresh capital
Bitplanet’s roadmap calls for building a 10,000-BTC treasury over time. To support that plan, the company raised $40 million last month, earmarked to fund ongoing accumulation and strengthen balance-sheet optionality as BTC market conditions evolve.
Bitplanet is backed by a roster of digital asset and traditional finance investors, including Simon Gerovich of Metaplanet, AsiaStrategy, Sora Ventures, UTXO Management, KCGI, Kingsway Capital, and ParaFi Capital. The investor lineup underscores Bitplanet’s ambition to become a regional reference point for institutional Bitcoin treasury management.
Formerly known as SGA Inc., Bitplanet describes itself as Korea’s first KOSDAQ-listed institutional Bitcoin treasury company.
Built on an IT services foundation, the firm emphasizes compliance, risk management, and financial engineering as the pillars of its strategy to help corporates adopt Bitcoin in a transparent, regulated manner.
Source: https://cryptoslate.com/bitplanet-starts-daily-bitcoin-accumulation-with-93-btc-purchase-targets-10k-btc-treasury/
