Bitplanet Acquires SGA to Enter Top Bitcoin Holders

Bitplanet, with a $50 million acquisition of SGA and a board led by Jason Fang of Sora Ventures, is positioning South Korea as a global leader in Bitcoin treasury accumulation.

As South Korea's first institutional Bitcoin treasury firm, Bitplanet is making a significant move to join the world's largest BTC holders by acquiring SGA Co. Ltd. for $50 million.

Finalized this week, the transaction marks the complete takeover of SGA following a 62% equity acquisition led by an international investor consortium. This deal significantly boosts Bitplanet's ambition to become a top-10 global Bitcoin holder, a status requiring at least 12,000 BTC, approximately $1.3 billion at current prices.

The deal's backers include major players such as Sora Ventures, Parafi Capital, and KCGI. UTXO Management and Kingsway Capital also participated, with UTXO committing $10 million to the round. As part of the acquisition, Bitplanet appointed Jason Fang, founding partner of Sora Ventures, as Chairman and confirmed plans for a strategic rebrand under the new structure.

Bitplanet's Co-CEO Paul Lee described the deal as a turning point, noting the firm now has the capital and institutional strength to scale its treasury strategy and long-term roadmap. "We are focused on building national and global infrastructure for Bitcoin as a strategic reserve asset," he stated.

The firm is entering a high-stakes race to dominate the treasury-backed Bitcoin market, a rapidly heating space across Asia. Bitplanet plans to launch Bitcoin products for both institutions and the public while working with regulators to integrate crypto into South Korea's financial system.

Meanwhile, momentum is building across the region. In early September, Sora Ventures launched a $1 billion Bitcoin treasury fund, seeded with $200 million in commitments. The signal is clear: Asia's Bitcoin bid is just beginning.