Metaplanet CEO Advances Bitcoin Strategy in Asia with South Korean Acquisition

Metaplanet CEO Simon Gerovich is actively advancing a Bitcoin treasury strategy campaign in Asia through a newly approved acquisition of a South Korean public firm. This move follows a similar strategy implemented in Thailand earlier this month. South Korea's SGA Co., a systems integrator serving government and education clients, has received regulatory approval to issue over 58 million new shares to a group led by Sora Ventures and KCGI, which includes Gerovich in an individual capacity.

The issuance, approved by the Korean Financial Services Commission and Korea Exchange, will make Asia Strategy Partners LLC, an investment vehicle backed by Sora Ventures and Gerovich, the largest shareholder of SGA Co. The move is intended to quickly secure funds needed to achieve the company’s business goals and strategic objectives. While the filing indicates Gerovich was selected based on his investment intent, payment capacity, and timing, it lists him as an individual investor, not as a representative of Metaplanet.

Gerovich declined to comment on how he views the role of public companies in Asia in normalizing Bitcoin on their balance sheets. The approval in South Korea follows a prior move from the same group associated with Gerovich, which earlier this month revealed that it had been eyeing a Thai-listed firm with a similar third-party issuance plan. The SGA deal suggests the consortium is adapting its strategy across markets, using regulated public firms to promote Bitcoin as a treasury asset in Asia.

Sora Ventures founder and managing partner Jason Fang offered insights into the strategy, stating that public companies in Asia are uniquely positioned to legitimize Bitcoin by putting it on the balance sheet within regulated, mainstream markets. Their role is to normalize adoption, not through speculation, but through disciplined treasury strategy. Fang claims the South Korea deal reflects a unique and more tailored approach to market entry by using a listed company and a trusted local partner to meet regulatory expectations.

These partnerships reflect the trust earned across Asia and reinforce the focus on credible, regulatory-first market entry. The new shares are set to list on September 24. The ₩34.5 billion raised (about $25 million) will fund operations and new business development. SGA’s management will remain, but control will shift to new investors, subject to a one-year lock-up period. From being a love hotel operator in Tokyo, Metaplanet has rebranded into Japan’s most visible corporate Bitcoin holder. The SGA deal follows a similar blueprint, with regulatory backing, local partners, and strategic share allocations positioning the firm for a potential shift in treasury policy, one increasingly shaped by Bitcoin.

Bitcoin represents a balance sheet upgrade, Fang said, noting that their group’s strategy is to lead this shift with credible institutions in markets where regulation and innovation can align. The move mirrors Metaplanet’s Japan strategy and signals a coordinated Bitcoin push across South Korea and Asia. The group includes KCGI, a major investment firm, and aims to influence treasury strategies across the region. The consortium is adapting its strategy across markets, using regulated public firms to promote Bitcoin as a treasury asset in Asia. The SGA deal suggests the consortium is adapting its strategy across markets, using regulated public firms to promote Bitcoin as a treasury asset in Asia.