Bitcoin News Update: Bitplanet, often referred to as South Korea's answer to MicroStrategy, unveils a government-approved Bitcoin treasury
Bitplanet, a South Korean company, has introduced a regulated
treasury program, acquiring 93 BTC on October 26 as the first step in its goal to amass 10,000 BTC over time. The company, which is listed on KOSDAQ and formerly known as SGA Co., Ltd., is the first publicly traded firm in South Korea to complete a fully regulated Bitcoin purchase under the supervision of the Financial Services Commission, as detailed in a . This action reflects a larger movement among Asian corporations to adopt cryptocurrency as a reserve asset, even as regulatory oversight becomes more stringent, according to a .Unveiled during Bitcoin Asia 2025, Bitplanet’s strategy dedicates $40 million to acquiring digital assets. Co-CEO Paul Lee highlighted the company’s enhanced governance and compliance measures, including transparent operations through a regulated platform. The firm had been discreetly accumulating Bitcoin for two weeks before making the news public, following strict risk management guidelines, as mentioned by
. This development comes after the implementation of South Korea’s Digital Asset Basic Act in June 2025, which seeks to bring uniformity to how companies manage crypto holdings, according to .
This initiative comes as the market experiences a recovery. Over the past week, Bitcoin climbed 6.7% to reach $115,200, rebounding from October’s lows near $107,000. Easing U.S. inflation and growing expectations of a Federal Reserve rate reduction in December have supported riskier assets. At the same time, Bitcoin and
ETFs attracted more than $600 million in new investments last week, indicating a resurgence of institutional interest following several months of withdrawals, as reported by crypto.news.Bitplanet’s financial results show a smooth shift from IT services to a focus on cryptocurrency. The company posted annual revenues of ₩75.5 billion ($55 million) and net profits of ₩4.7 billion ($3.4 million). Supported by Sora Ventures and Metaplanet CEO Simon Gerovich, Bitplanet aims to become South Korea’s counterpart to MicroStrategy or Tesla in the Bitcoin sector, as noted by CoinAlert News.
On a global scale, public companies now collectively own more than 1.02 million BTC, valued at $110 billion, highlighting Bitcoin’s increasing role as a strategic reserve. Nonetheless, Asian stock markets are stepping up regulatory checks, with 134 companies in the region estimated to hold a combined 58,000 BTC, according to the crypto.news investigation. Japan’s Metaplanet is currently the largest corporate holder with 30,000 BTC, while Bitplanet’s recent 93 BTC acquisition marks a careful but intentional move into this trend, as first reported by Yahoo Finance.
