South Korea's Bitplanet Commits $40 Million to First Institutional Bitcoin Treasury

South Korean firm Bitplanet announced on August 28, 2025, its pioneering Bitcoin treasury strategy, committing an initial $40 million to Bitcoin purchases. This move positions Bitplanet as the first global institutional Bitcoin treasury company in South Korea, signaling a significant shift in corporate asset management within the region. As stated by Cointelegraph, the announcement was "BULLISH," marking Bitplanet as "the first global institutional $BTC treasury company in the country with plans to buy $40M worth of $BTC as a start."

Formerly known as SGA, the company underwent a strategic rebranding to Bitplanet following a third-party share placement led by Asia Strategy Partners, now its largest shareholder. This transformation signifies a clear and open pivot towards integrating cryptocurrency and blockchain into its core operations. The rebrand underscores Bitplanet's commitment to embedding Bitcoin into its long-term financial planning and strategy.

The initial $40 million allocation for Bitcoin purchases aims to establish an institutional-grade custody and asset management platform. Paul Lee, Co-Founder and Managing Partner of Lobo Ventures, speaking at Bitcoin Asia 2025, emphasized that the initiative was executed without incurring debt, providing the company with "flexibility and strength to grow without the financial burden of leverage." He further noted that an investor consortium acquired 62% of SGA, the company's predecessor, giving them full board control to effect this change and immediately deploy the funds.

Bitplanet's initiative aligns with a growing trend of corporate Bitcoin adoption across Asia, positioning South Korea as a potential center for institutional digital asset integration. Other regional players, such as Nasdaq-listed K Wave Media, which secured $1 billion for its own Bitcoin treasury plan with a significant portion earmarked for Bitcoin, and Japan's Metaplanet, aggressively expanding its Bitcoin holdings, reflect this broader shift. This development indicates an increasing number of Asian businesses are adopting Bitcoin as a reserve currency for their treasuries.

By holding Bitcoin as a primary reserve asset, Bitplanet sets a significant precedent for other South Korean firms to reconsider their own reserve strategies, potentially triggering a broader shift in how corporations manage and diversify their holdings. While this bold financial statement aims to encourage wider institutional confidence in Bitcoin, the company must navigate South Korea’s evolving regulatory environment. Regulatory scrutiny, market volatility, and compliance requirements will necessitate robust risk management and transparent communication to maintain investor confidence.