South Korea-based Bitplanet plans to establish the country’s first institutional Bitcoin 
$77,420 treasury. The company announced it has secured $40 million in fresh capital aimed solely at Bitcoin purchases.
Bitplanet’s $40 Million Bitcoin Purchase Plan
Speaking at the Bitcoin Asia 2025 event, Paul Lee, Co-Founder and Managing Partner of Lobo Ventures, detailed the founding process of Bitplanet. Lee explained that an investor consortium recently acquired 62% of SGA shares traded on CoStack, assuming control of the board. Within two weeks, the company will be rebranded as Bitplanet, with over $40 million allocated to Bitcoin acquisitions.
Lee emphasized that the process is managed under a debt-free financial structure, granting the company flexibility and establishing a solid foundation without leveraging risk. He highlighted that the resources would be activated immediately on the launch day.
The Growing Bitcoin Treasury Race in South Korea
Bitplanet’s announcement marks the latest development in South Korea’s increasing institutional interest in cryptocurrencies. In July, Nasdaq-listed K Wave Media revealed its $1 billion Bitcoin treasury plan, having signed a $500 million funding deal, with at least 80% of the funds dedicated to Bitcoin purchases.
While some local Blockchain companies have previously focused on XRP-related products, Bitplanet’s initiative indicates a shift toward regulated Bitcoin solutions. Similarly, Japan-based Metaplanet announced plans to expand its Bitcoin acquisitions via an $881 million international share issue.
Experts suggest that Bitcoin is becoming a reserve currency for more companies across Asia in their corporate treasuries. Bitplanet’s entry might position South Korea as a new hub for institutional Bitcoin adoption.
According to CryptoAppsy data, Bitcoin rose by 2.06% in the last 24 hours, surpassing $103,000. At the time of reporting, the largest cryptocurrency was trading at $103,088.
