KOSDAQ Bitplanet Boosts Bitcoin Holdings to 119.67 BTC
KOSDAQ-listed Bitplanet has boosted its Bitcoin treasury from 92.67 BTC (≈15.6 billion KRW) to 119.67 BTC after following peer SGA’s crypto VC-backed strategy. The firm’s Bitcoin acquisitions, initiated under Sora Ventures’ influence, underscore a broader trend of institutional adoption as companies diversify assets, hedge against inflation and enhance balance sheets. Bitplanet’s transparent disclosure of Bitcoin holdings may prompt other South Korean SMEs to integrate digital assets into corporate treasuries. While this corporate Bitcoin accumulation strengthens market credibility, it also carries risks from price volatility and evolving regulations. Traders should watch for potential supply-demand impacts and increased legitimacy driving Bitcoin’s market dynamics.
Bullish
Bitplanet’s expanding Bitcoin holdings reflect increasing institutional demand, which can set a bullish tone for Bitcoin prices. In the short term, transparent corporate acquisitions may trigger modest price support as traders anticipate reduced circulating supply. Over the long term, continued institutional adoption of Bitcoin by public companies can enhance market stability, foster greater investor confidence, and potentially establish a higher price floor for BTC.