BitPlanet has emerged with high ambitions as the first institutional, global Bitcoin treasury company in Korea, following a takeover of a local company by an investor consortium.
Korea’s New Bitcoin Accumulator BitPlanet Aims to be Top 10 Global Treasury
28 August 2025 - 08:03 CEST
Investors led by Taiwanese venture capital firm Sora Ventures acquired SGA, a software and technology company traded on Korea’s KOSDAQ stock exchange, and will make use of its 28-year operating history to launch the new BitPlanet brand in September, according to new co-CEO Paul S. Lee.
Announcing the initiative at the Bitcoin Asia conference in Hong Kong, Lee said BitPlanet will immediately deploy more than $40 million of cash into Bitcoin accumulation, without raising any debt to do so. The longer-term ambition will require a much larger funding pot.
“Our priority is to stack as much Bitcoin as possible as quickly as possible and measure our performance only in Bitcoin terms,” Lee said, speaking in a prime slot on the Nakamoto Stage on day one of the conference.
Gold standard
BitPlanet follows in the steps of Michael Saylor’s firm Strategy, the largest corporate treasury with more than 632,000 bitcoins, and Simon Gerovich’s Metaplanet, which pivoted from hotels to cryptocurrency accumulation in 2024. Lee said he wants to set the “gold standard” of a BTC treasury model as the firm speeds towards its initial goal of acquiring 10,000 bitcoins and becoming a top 10 Bitcoin investor worldwide. That would place BitPlanet close to the likes of crypto exchange Coinbase and Bitcoin miner Cleanspark in the corporate treasury rankings.
Lee's target would require about $1.13 billion of investment, based on today’s prices.
The move sheds an interesting light on how investors are taking over companies with unrelated strategies and operations and rebooting them as crypto stockpiles. Lee, a Korean former lawyer and investment professional, will be co-CEO alongside SGA’s Jae-han Park who continues to lead the prior business.
Strategic partners
Aside from Sora Ventures, Metaplanet is among the investors and strategic partners behind Lee’s venture. He also mentioned Asia Strategy, ParaFi Capital, Kliff Capital of Thailand, Moon Inc. in HK and DV8 of Thailand as investors. KCGI, a Korean financial company, also takes a seat on the company’s board of directors.
Under recently elected President Lee Jae Myung, South Korea has moved to position itself as a regional crypto hub in Asia. The President has championed widespread cryptocurrency in Asia’s fourth-largest largest economy and has touted a won-backed stablecoin to prevent national wealth leaking overseas amid a wider initiative to establish a tighter regulatory framework.
Korea needs Bitcoin
Bitplanet’s new co-CEO Lee remains unconvinced by the current level of adoption in his native country, despite reports of more than 16 million Koreans using crypto – about a third of the population.
“It’s been difficult to watch that the Bitcoin narrative has not yet taken its root in Korea – the country I frankly think needs it the most,” he told the conference. “I truly believe Korea is at an inflection point as recognizing Bitcoin as the only answer. We need a bridge between old financial securities infrastructure and Bitcoin. Whoever builds that bridge will unlock the next wave of value creation in the Korean financial industry.”
SGA’s regulatory announcements show that Metaplanet’s Gerovich and Top Win International Ltd, a Hong Kong-based trader of watches and luxury goods, planned to acquire a stake in the company in mid-July.
