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Bitplanet Becomes First Public Korean Company to Acquire Bitcoin
Bitplanet, a publicly listed South Korean firm, has taken its first step toward a massive Bitcoin treasury, executing the inaugural purchase in its daily accumulation plan. The company acquired 93 BTC on Sunday as part of its broader target of 10,000 BTC, marking what Bitplanet positions as the first Bitcoin purchase by a public Korean company.
Building a Regulated Bitcoin War Chest
Backed by Metaplanet CEO Simon Gerovich, the program is conducted through a fully regulated and compliant infrastructure, reflecting the firm’s commitment to transparency and risk management. Bitplanet co-CEO Paul Lee told Decrypt that the strategy “enables legitimate and prudent risk management” for its Bitcoin acquisitions.
The company revealed that it had been buying Bitcoin daily for roughly two weeks prior to the announcement, with all transactions disclosed through a compliance monitoring platform overseen by Korea’s Financial Services Commission.
Bitcoin Market Context and Momentum
The move comes as Bitcoin recovers from a recent $19 billion wipeout in leveraged positions, climbing 6.7% over the past week to $115,200. The asset gained nearly $1,000 Sunday evening following softer-than-expected U.S. inflation data, fueling speculation that the Federal Reserve may cut rates in December.
Meanwhile, Bitcoin and Ethereum ETFs have seen renewed inflows, with more than $600 million entering the market over the past week, reversing a prior outflow trend.
Transition from IT Services to Bitcoin Treasury
Listed on KOSDAQ (049470), Bitplanet reported trailing twelve-month revenue of ₩75.5 billion (~$55M) and net income of ₩4.7 billion (~$3.4M). The company transitioned from its legacy IT services under SGA Co., Ltd. in August 2025, rebranding as Bitplanet and adopting a dedicated Bitcoin-treasury model, supported by institutional investors like Sora Ventures.
With South Korea’s Digital Asset Basic Act set to take effect by 2027, Bitplanet already operates under a “stricter interpretation of current FSC guidance” to ensure smooth regulatory compliance and a seamless transition to corporate crypto holdings.
