A strategic Bitcoin play is unfolding across Asia as investors linked to Metaplanet expand influence via acquisitions. The latest move targets South Korea’s public markets.
Simon Gerovich, CEO of Metaplanet, is backing a consortium of investors pushing Bitcoin-focused treasury strategies across Asia. Their latest move involves acquiring a controlling stake in SGA Co., a South Korean public firm known for its government and education tech services.
The deal—approved by South Korean regulators—includes a third-party share issuance totaling over 58 million new shares. This issuance will make Asia Strategy Partners LLC, backed by Sora Ventures and Gerovich, the largest shareholder of SGA Co. The investment group also includes South Korea’s KCGI, a major private equity firm.
The objective, according to the filing, is to quickly raise capital to meet strategic business goals. Though Gerovich is listed as an individual investor and not officially representing Metaplanet, his involvement mirrors a similar acquisition initiative in Thailand earlier this month.
The pattern suggests a coordinated effort to normalize Bitcoin as a treasury asset across Asian corporations. By acquiring stakes in regulated public firms, the group is establishing footholds for broader adoption. Sora Ventures declined to comment on whether similar acquisitions are being considered in other markets, citing regulatory constraints.
Gerovich also declined to clarify his stance on the role of public companies in advancing Bitcoin balance sheet strategies, but the moves speak to a calculated expansion of crypto influence through traditional finance channels.
CryptoFeedHub Note: This article is a rewritten summary based on external reporting. Original source: decrypt.co.