TechFlow news, October 27 — According to Decrypt, South Korean listed company Bitplanet executed its first purchase under its daily Bitcoin accumulation program on Sunday, acquiring 93 BTC as part of its goal to build a 10,000 BTC reserve.
The company, backed by Metaplanet CEO Simon Gerovich, has positioned this move as the first Bitcoin purchase by a South Korean publicly listed firm. Bitplanet previously announced the plan at the Bitcoin Asia 2025 conference at the end of August and rebranded itself, setting aside $40 million for future purchases.
Co-CEO Paul Lee said the initiative offers "legitimate and prudent risk management for Bitcoin acquisition." The company has fully disclosed these purchases through South Korea's Financial Services Commission compliance monitoring platform.
