The South Korean public company Bitplanet has officially launched a large-scale strategy to form its own Bitcoin treasury, making its first purchase of 93 BTC. The company plans to buy Bitcoin daily in order to achieve its ambitious goal of accumulating 10,000 BTC, which would set a record for South Korean public companies.
This is reported by Business • Media
Bitplanet’s Strategy: Daily Purchases and Operational Transparency
The new direction of the company is supported by Metaplanet’s CEO Simon Heroivich and Sora Ventures. Bitplanet has become the first public company in South Korea to purchase Bitcoin directly through a licensed cryptocurrency exchange in the country. To achieve the goal of accumulating 10,000 BTC, the company is utilizing $40 million in funding and has also rebranded its business.
Co-CEO of Bitplanet Paul Lee emphasized that this strategy ensures legitimate and balanced risk management when investing in cryptocurrency. He also highlighted that in the two weeks leading up to the official announcement, the company had already been purchasing Bitcoin daily, and all acquisitions were fully disclosed through a monitoring platform overseen by the Financial Services Commission (FSC) of South Korea.
“Over the past month, Bitplanet has quietly built the most reliable and compliant Bitcoin treasury infrastructure in Korea — ultimately becoming the first public company to purchase Bitcoin directly through a licensed domestic cryptocurrency exchange. As of October 26…”
The Bitcoin Market, Institutional Changes, and Regulatory Framework
The start of active purchases coincided with a period of recovery in the Bitcoin price following a significant liquidation of futures positions worth $19 billion at the beginning of October. Amid the de-escalation of the trade war between China and the U.S., the asset’s value reached $116,000. Additionally, during this period, there has been a substantial influx of investments into Bitcoin ETFs totaling over $446 million, reversing the previous trend of capital outflow.
In August 2025, Bitplanet confirmed the completion of its transition from operating under the SGA Co brand to a new Bitcoin treasury model supported by institutional investors. Founded in 1997, the company had previously specialized in cybersecurity, network infrastructure, and software development for the public and corporate sectors.
It is worth noting that in June 2025, South Korea introduced the “Digital Assets Act,” which establishes uniform accounting standards for cryptocurrencies for businesses — these regulations will come into effect in 2027. Bitplanet is already operating in accordance with the stricter current FSC guidelines, preparing not only to comply with but also to exceed future regulatory requirements.
Previously, the Financial Services Commission prohibited cryptocurrency exchanges from providing crypto-lending services, reinforcing the emphasis on transparency and compliance in the industry.