Metaplanet CEO helps quietly acquire Asian companies to push Bitcoin agenda

Metaplanet CEO Simon Gerovich helps to promote a Bitcoin Treasury strategy campaign in Asia through a newly approved acquisition of a South Korean public company, after a similar step in Thailand earlier this month.

SGA Co. In South Korea, a system integrator for government and educational customers, has been approved to issue more than 58 million new shares to a group led by Sora Ventures and KCGI, and including gerovich in individual capacity.

The issue, approved by the Korean Financial Services Commission and Korea Exchange on Monday, will make ASIA Strategy Partners LLC, an investment vehicle supported by Sora Ventures and Gerovich, the largest shareholder of SGA Co.

The move is intended to “secure funds that are necessary to achieve the company goals and strategic objectives of the company,” said a rough translation of the disclosure of the regulations submitted in Korean.

Although the submission indicates that Gerovich has been selected on the basis of his investment intention, payment capacity and timing, it does not state him as an individual investor, not as a representative of Metaplanet.

Gerovich refused DecryptThe request for comment on how he sees the role of public companies in Asia in normalization Bitcoin On their balance sheets.

The approval in South Korea follows an earlier relocation of the same group associated with Gerovich, which previously revealed that it had looked at a Thai-Genotered company with a similar issue of third parties.

The SGA deal suggests that the consortium adjusts its strategy in various markets and uses regulated public companies to promote Bitcoin as a Treasury activum in Asia. With reference to disclosure rules, a Sora Ventures representative refused to say whether similar deals are planned or that other Asian markets are in the pipeline of the consortium.

“A Balansupgrade”

The same questions as Gerovich, founder of Sora Ventures and managing partner Jason Fang offered a look at what there is wraps.

“Public companies in Asia are uniquely positioned to identify Bitcoin by placing it on the balance within regulated, regular markets,” Fang told Decrypt. “Their role is to normalize acceptance, not through speculation, but through the disciplined treasury strategy.”

Fang claims that the South Korea deal reflects a “unique” and more tailor -made approach to market access by using a listed company and using a trusted local partner to meet the expectations of the regulations.

Those partnerships “reflect the confidence that we have earned in Asia and strengthens our focus on credible, regulatory market input,” Fang said.

The new shares were set on the list on 24 September. The ₩ 34.5 billion increased (approximately $ 25 million) finances activities and new business development. SGA’s management will remain, but the check will shift to new investors, depending on a lock-up period of one year.

From a hotel operator in Tokyo, Metaplanet has been renamed the most visible business bitcoin holder in Japan. The SGA deal follows a similar blueprint, with regulatory support, local partners and strategic equity resources that position the company for a possible shift in the Treasury policy, one that is increasingly formed by Bitcoin.

Bitcoin represents “a balance -upgrade,” Fang said, and noted that the strategy of their group is “to lead this shift with credible institutions in markets where regulations and innovation can coordinate.”