Bitplanet Invests $40 Million in Bitcoin, Becoming First Institutional Player in Korea

Bitplanet, a new entity in South Korea, has made a significant move by allocating $40 million to its Bitcoin treasury. This marks the first instance of an institutional-grade Bitcoin investment in the country and signifies a pivotal moment for the nation’s crypto landscape. The company recently acquired 62% of SGA, formerly known as a system integrator provider, allowing them to effectively control the business and implement their strategic Bitcoin plan. This move coincides with South Korea’s evolving financial framework, which now permits listed companies to directly invest in digital assets like Bitcoin.