Bitplanet kicks off 10,000 BTC reserve plan with 93 BTC buy

Bitplanet, a publicly traded Bitcoin treasury based in South Korea, has begun its daily BTC buying plan, adding 93 BTC to its coffers as part of a broader effort to build a 10,000 BTC reserve. The company, backed by Metaplanet’s Simon Gerovich, first announced its plan to accumulate BTC during the late-August Bitcoin Asia 2025 event, alongside a rebranding and earmarking of approximately $40 million for future BTC purchases.

Bitplanet’s co-CEO, Paul Lee, stated that his company’s move will enable legitimate and prudent risk management for BTC acquisition. He added that the program will be executed through a regulated and compliant infrastructure, and is being touted by the firm as the first BTC purchase by a South Korean public company. 

Lee claimed that his company has materially improved its governance structure over the past month and is implementing better investment and capital management procedures. He noted that Bitplanet had made daily BTC purchases for about two weeks before the official announcement. The Bitplanet boss confirmed that those initial purchases were fully disclosed through a compliance monitoring platform operated by the country’s Financial Services Commission (FSC).

Bitplanet operates under stricter interpretations of FSC regulations

When asked what investors should expect from Bitplanet once the South Korean Digital Asset Basic Act takes effect by 2027, Lee said the company already operates under tighter interpretations of the FSC’s guidelines. He added that this mode of operation ensures a smooth transition, and his company has been preparing to meet or exceed its regulatory requirements. 

South Korea’s Digital Asset Basic Act was introduced in June and is expected to become law by 2027. The Act establishes unified standards for token issuance, custody, and corporate digital asset holdings. 

Lee also clarified that his company’s decision to accumulate BTC comes as the token regains momentum following a $19 billion wipeout of leveraged positions in early October. CoinGecko data shows that BTC has surged approximately 4.8% over the past week, recovering from last week’s lows of $107,000 to approximately $112,572. The token added roughly $1,000 to its value on Sunday evening, extending the gains. 

Lee says Bitplanet will stick to debt-free BTC buying   

Bitplanet’s Paul Lee revealed that his company, formed after acquiring a 62% stake in CoStack-listed SI provider SGA, plans to implement a debt-free BTC acquisition strategy. He pointed out that this streamlined financial structure will enable the company to pursue long-term growth without incurring excessive risks, thereby providing it with greater flexibility in future treasury management.

The company’s management confirmed in late August that institutional investors will support Bitplanet’s adoption of a dedicated BTC-treasury model. Sora Ventures is one of those institutional investors, and it has built out a consortium of public companies currently aligned to establish crypto treasuries across Asia. However, major stock exchanges in the region have resisted the idea.

Joshua Chu, a lawyer, lecturer, and co-chair of the Hong Kong Web3 Association, recently stated that the fragmentation across Asia’s jurisdictions will likely persist because each of the region’s markets prioritizes unique policy goals. He explained that Singapore focuses its regulatory emphasis on payments and the regulated use of tokenized payment platforms. Meanwhile, Hong Kong has more product-centric crypto development, focusing on governance, the regulatory treatment of digital asset offerings within capital markets, and investor protection. 

In recent months, Hong Kong Exchanges and Clearing has rejected applications from five companies seeking to adopt BTC treasury strategies. India’s Bombay Stock Exchange also denied Jetking Infotrain’s application to establish the country’s first-ever publicly listed BTC treasury. Jetking planned to allocate nearly 60% of its raised funds to Bitcoin accumulation, which the company’s CFO Siddarth Bharwani said is a missed opportunity to explore Bitcoin innovation.

However, Chu warned against loosening conventional corporate rules for digital asset treasuries, noting that they protect against volatility arbitrage shells posing as leveraged Bitcoin plays, which led to recent retail investor losses. He further cautioned that loosening these traditional corporate rules risks a repeat of the speculative frenzy of the dot-com era. 

Sharpen your strategy with mentorship daily ideas - 30 days free access to our trading program