In short
- A consortium led by Metaplanet-Backers has submitted to acquiring DV8, a Thai-listed company, through a voluntary offer.
- Backers are Utxo, Sora Ventures, Kliff Capital and Asiast strategy, in a broader attempt to promote the adoption of Bitcoin Treasury in Southeast -Asia.
- Experts have warned that companies with poorly capitalized Bitcoin can cause instability and systemic risk as a lifeline.
A consortium of Bitcoin-Native Investors acquires DV8, a TAIS-Genotated company that is mainly concerned with distribution of retail and consumer electronics, in an attempt to extend the Bitcoin Treasury model to the public markets of Southeast Asia.
The consortium is planning to acquire “at least 75%” of the registered capital of DV8 via a voluntary offer, according to a press statement shared with Decrypt. A notification of intention was published on Thursday by the Thailand stock exchange.
The group is led by Backers from Metaplanet Inc., the company listed by Tokyo that Bitcoin has taken over as its primary treasury assets. Consortium members are UTXO Management, Sora Ventures and Kliff Capital, a Thai asset manager. Metaplanet CEO Simon Gerovich is mentioned as an individual investor.
Moon Inc. (HKEX: 1723), a telecom company supported by Hong Kong by Utxo and Sora, is also involved. The group is supported by Asiaststrategy (Nasdaq: Sora), which has a deployment in Metaplanet, Moon and now DV8.
Asked by Decrypt How the consortium intends to balance activities with a Bitcoin-oriented strategy, Jason Fang, founder of Sora Ventures, brought the demand and only offers a broad explanation of enthusiasm for the Thai market.
Thailand could represent “A market that we think has the potential that the next metaplanet is on the set,” Fang told Decrypt.
Printed on Governance, Fang called the track record of the other shareholders in Bitcoin But did not offer concrete mechanisms or supervision plans.
Asked for further details about the ownership structure of the deal, a spokesperson for Sora Ventures told Decrypt That according to the standards that details can be available within a week.
A “Lakmus test” for business Bitcoin boxes
The disclosure of the consortium of its plans follows a broader trend in which small CAP or financially distracting companies have adopted Bitcoin-Treasury strategies with mixed results.
Last week, ASX-Genten Biotech company Opyl saw its stock peak after announcing a pivot point in Bitcoin. Days later a similar step arose in Spain, where Cafe chain Vanadi Coffee announced a Bitcoin -Pivot.
In both cases, observers have warned risks that “forced liquidations and instability”, warning that such “gimmicks” “can probably fail”.
“Bitcoin on the balance sheet can be disciplined treasury management or a neon-orange emergency flare,” said Saul Rejwan, managing partner at Crypto Venture Capital Firm Masterkey in an early stage, said Decrypt.
Others in the room reflect that distribute.
“When a company builds a BTC treasure box with strategy, conviction and clear communication, this indicates,” said Vincent Liu, Chief Investment Officer at Kronos Research in Taipei, said Decrypt. “But when wrestling companies make sudden movements, it often feels like a short-term stunt or hype game.”
Jay Jo, senior analyst at Seoul -based Tiger Research, said Decrypt That most business Bitcoin strategies “are driven in the short term.”
“Companies issue new shares or increase the debts to finance Bitcoin purchases without solid financial foundations,” he added. “This creates systemic risk.”
Yet not all Bitcoin Treasury movements have been drawn up, Rejwan notes.
“The Litmus test is sequencing,” he said, adding that “lean organizations with minimal head count and therefore lower burns can survive the Down-Pijlen.”
“Those who use BTC as a living support for a cash-hunger core activities usually do not,” said Rejwan.
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