Bitplanet Becomes the First South Korean Company to Accumulate BTC to Build a 10,000 BTC Treasury
Key Takeaways
- Bitplanet, a publicly listed South Korean company, started accumulating BTC as a part of its treasury plan.
- The company has purchased 93 BTC and is targeting to accumulate 10,000 BTC as a strategic reserve.
- The move is significant as it marks the regulated entry of BTC as a strategic reserve in the South Korean market.
- Companies and governments are actively discussing cryptocurrency reserves, and BTC is predicted to be part of even central banks’ reserves by 2030.
- Amid a favourable macro climate and industrial development, the BTC is currently trading at $115k level.
Bitplanet, a publicly listed South Korean company, started accumulating BTC as a part of its treasury plan. The company has purchased 93 BTC and is targeting to accumulate a massive 10,000 BTC as a strategic reserve. Bitplanet became the first South Korean publicly traded company to purchase BTC as part of its treasury plan. The company had earlier raised $40 million to support its ongoing treasury plans.
Founded back in 1997, Bitplanet was rebranded to a new name, and the company announced its plans to build a BTC treasury back in August. Earlier, the company was operating under the name SGA Co., Ltd., offering IT services such as cybersecurity, network infrastructure, and embedded software for both government and high-profile private clients. The company is backed by high-profile investors such as Metaplanet CEO Simon Gerovich and Sora Ventures. The company recorded revenue of approximately $55 million and a net income of around $3.4 million in the past 12 months, showing a financially sound balance sheet. The move is significant as it marks the first regulated entry of BTC as a strategic reserve in a hitherto unexplored South Korean market.
From Corporations to Governments: The Rising Significance of BTC as a Treasury Reserve
The treasury initiation plan by established companies with a long history clearly shows the changing perception of the world towards digital currencies. Not just cooperates, the governments and central banks are actively discussing adding digital assets to their reserves.
Earlier this month, two Swedish MPs introduced a motion in their parliament proposing a national strategic Bitcoin reserve, citing inflation protection and diversification. Back in March this year, U.S senators Cynthia Lummis and Congressman Nick Begich introduced the BITCOIN Act in March 2025 with the objective to establish a Strategic Bitcoin Reserve. Currently, the BTC holding of the U.S. government is valued at around $13–14 billion.
A recent Deutsche Bank study titled “Gold’s Reign, Bitcoin’s Rise” predicted that BTC will be part of central banks’ reserves by 2030. The increased institutional adoption and the declining volatility of Bitcoin are aiding its evolution into a more legitimate reserve asset.
As per the latest BTC treasury data, 125 entities and 29 countries currently hold BTC worth $190.91 billion. Among the companies, the Strategy tops the leaderboard with 640,418 BTC.
Amid the encouraging industrial news, BTC has rebounded to $115k level.
How is BTC Faring Amid Macrotailwinds?
The BTC is trading around $115,485.54, and the price has increased 3.64% in the past 24 hours. The uptrend today is largely driven by industrial developments such as BTC accumulation by Bitplanet and enhanced Exchange Traded Fund(ETF) inflows. The BTC ETFs market $90.60 million in net inflows on October 24.
The ongoing macropressure has cooled considerably as the U.S and China trade talks progressed constructively. Additionally, the recent inflation data further increased anticipation around Fed rate cuts, which is favourable for high-reward yet risky emerging markets such as crypto. Amid the macrotailwinds, the traders are closely watching whether BTC can hold the current level to confirm the rally.
Crypto & Blockchain Expert