Asian Bitcoin Consortium Targets Thailand’s DV8 Public Company

An Asian consortium, spearheaded by the founding forces behind Japan’s Metaplanet, has announced plans to acquire Thailand’s DV8 Public Company Limited through a voluntary tender offer. This move, revealed on July 3, signifies a strategic expansion by prominent Bitcoin-focused investors into the Thai market. The consortium includes a diverse group of investors and firms, each bringing unique expertise and resources to the table.

The alliance comprises UTXO Management, Sora Ventures, Kliff Capital, Simon Gerovich, Moon Inc., AsiaStrategy, and Mythos Group. UTXO Management, co-founded by Tyler Evans and Bitcoin Magazine founder David Bailey, focuses on Bitcoin investment opportunities across both public and private markets. Sora Ventures, founded by Jason Fang, has a track record of backing over 40 companies in the Bitcoin, DeFi, and Web3 sectors. Kliff Capital, Thailand’s leading alternative asset manager, was established by Annie Yang, formerly of Goldman Sachs and KKR, entrepreneur Tanat Tananivit, and financial strategist Kip Tiaviwat.

Simon Gerovich and Jason Fang have been instrumental in developing Metaplanet’s Bitcoin-native treasury model. The bid also includes Moon Inc., listed on the Hong Kong Stock Exchange, and AsiaStrategy, a Nasdaq-listed firm investing in Asian public companies with Bitcoin treasury strategies. Mythos Group, a multi-strategy digital asset holding company, is also part of the acquisition effort, active in venture funding and corporate treasury deals.

The proposed acquisition brings together institutional investors and Bitcoin treasury leaders from various regions, including Japan, Hong Kong, Thailand, and the US. This move is expected to accelerate the adoption of digital assets within Thailand’s capital markets. The financial terms of the tender offer have not been disclosed.

This acquisition represents a significant step in the expansion of Bitcoin-focused investment strategies across Asia. By targeting DV8 Public Company Limited, the consortium aims to leverage the growing interest in digital assets and blockchain technology within the Thai market. The diverse expertise and resources of the consortium members are expected to drive innovation and growth in the region’s capital markets.

The acquisition is a testament to the growing influence of Bitcoin and digital assets in the global financial landscape. As more institutional investors and firms adopt Bitcoin treasury strategies, the demand for digital asset investment opportunities is likely to increase. The consortium’s move into the Thai market underscores the potential for digital assets to transform traditional financial systems and create new opportunities for investors and businesses alike.