Bitplanet Launches Daily Bitcoin Accumulation Program

Bitplanet, listed on KOSDAQ as 049470, has executed the inaugural transaction in its daily Bitcoin accumulation program, acquiring 93 BTC through regulated and compliant infrastructure. This purchase represents the first Bitcoin acquisition by a public Korean company and marks the beginning of an ambitious plan to build a 10,000-Bitcoin treasury. The program, announced during Bitcoin Asia 2025 in late August, is backed by $40 million in fresh funding and coincides with the company’s rebranding from its legacy IT services operations under SGA Co., Ltd.

Bitplanet co-CEO Paul Lee emphasized that the company’s approach “enables legitimate and prudent risk management” for Bitcoin acquisitions. The company has “materially improved” its governance structure and implemented enhanced investment and capital management processes over the past month. Lee revealed that Bitplanet had been buying Bitcoin daily for approximately two weeks before the public announcement, with all purchases “fully disclosed” through the compliance monitoring platform operated by Korea’s Financial Services Commission (FSC).

Bitplanet’s treasury accumulation program launches as Bitcoin demonstrates renewed strength in October, climbing roughly 6.7% over the past week to $115,200 according to CoinGecko data. This recovery follows last week’s lows near $107,000 and a $19 billion wipeout of leveraged positions earlier in the month. The asset added nearly $1,000 to its value on Sunday evening, extending gains after softer-than-expected U.S. inflation data reinforced expectations that the Federal Reserve may implement further rate cuts in December.

Concurrent with Bitcoin’s price appreciation, inflows into Bitcoin and Ethereum exchange-traded funds have reversed previous outflow trends, with more than $600 million entering the market in the past week. This renewed institutional interest provides a favorable backdrop for Bitplanet’s treasury strategy, as the company transitions from its historical focus on IT services and systems integration specializing in cybersecurity, network infrastructure, and embedded software for government and enterprise clients.

Bitplanet’s shift to a dedicated Bitcoin-treasury model represents a fundamental transformation for the company founded in 1997. The publicly traded firm reported trailing twelve-month revenue of approximately ₩75.5 billion (US$55 million) and net income of about ₩4.7 billion (US$3.4 million), reflecting stable core operations that now support its new digital asset strategy. The company is backed by Metaplanet CEO Simon Gerovich and includes Sora Ventures among its leading investors, with both entities involved in building a consortium of public companies across Asia focused on digital asset treasuries.

Despite pushback from major regional stock exchanges against corporate crypto holdings, Bitplanet is positioning itself ahead of South Korea’s evolving regulatory landscape. The Digital Asset Basic Act, introduced in June 2025 and expected to take effect by 2027, aims to establish unified standards for token issuance, custody, and corporate crypto holdings. According to co-CEO Paul Lee, Bitplanet already operates under a “stricter interpretation of current FSC guidance to ensure a smooth transition” and has been “preparing to meet or exceed” forthcoming regulatory requirements.

The company’s proactive compliance approach and daily accumulation strategy demonstrate a methodical path toward its 10,000-Bitcoin target. As one of the first publicly listed companies in South Korea to formally embrace Bitcoin treasury management, Bitplanet’s program could establish a template for other corporations navigating the intersection of traditional finance and digital assets in regulated markets.