South Korea’s Bitplanet Invests $40 Million in Bitcoin, Sparking Institutional Adoption

A South Korean firm, Bitplanet, is taking a significant step forward with its plan to establish the country’s first institutional Bitcoin treasury. The company has allocated a substantial $40 million to purchase Bitcoin, demonstrating a growing trend of institutional interest in cryptocurrencies within the nation. This move follows the recent acquisition of SGA by an investor group that now holds a 62% majority stake.