- South Korea’s Bitplanet Inc. has executed its first regulated corporate purchase of 93 BTC on October 27, 2025, as part of a daily accumulation plan.
- The company aims to build a treasury of 10,000 BTC, backed by a recent $40 million funding raise.
- Bitplanet is backed by Metaplanet Inc. CEO Simon Gerovich and others, positioning itself as Korea’s institutional Bitcoin-treasury pioneer.
Seoul-based publicly listed company Bitplanet announced on Oct 27, 2025, that it has initiated a daily accrual program for Bitcoin, starting with a purchase of 93 BTC. The firm says the move is fully compliant with South Korea’s regulatory infrastructure and the first of its kind for a listed company in the country.
Bitplanet’s Treasury plans
The Bitcoin treasury company, is backed by Metaplanet CEO Simon Gerovich and had announced that it would be raising $40 million to fund its accumulation strategy and set a target of 10,000 BTC. Originally named SGA Co., Ltd., Bitplanet rebranded in late August 2025 with a clear pivot from IT services to a dedicated Bitcoin-treasury model.
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Metaplanet Inc.was formerly in the hotels and media business,but has since morphed into one of Asia’s major Bitcoin-treasury players under CEO Simon Gerovich. This backing signals cross-border momentum in Asia’s corporate crypto adoption.
Co-CEO Paul Lee stated: “This transaction marks the first Bitcoin purchase by a publicly listed company in Korea executed entirely through regulated and compliant infrastructure.” He added that Bitplanet’s approach is a “rules-based, long-term strategy” to treat Bitcoin as a strategic treasury reserve asset.
Interestingly, the purchase aligns with a broader crypto market rebound. Bitcoin has climbed as expectations of a US rate cut and renewed ETF inflows have bolstered risk assets. Bitplanet’s move provides a domestic channel for institutional accumulation within South Korea, rather than relying solely on offshore vehicles. Analysts note this could pave the way for banks, insurance firms and pension funds in the region to follow suit.
