Metaplanet CEO Invests in Korean Firm for Bitcoin Treasury

Metaplanet CEO Simon Gerovich Joins Korean Investment Deal for Bitcoin Treasury Expansion

Simon Gerovich, CEO of Tokyo-based Metaplanet, has joined a consortium negotiating to acquire a controlling stake in SGA, a publicly traded software services company listed on South Korea's KOSDAQ exchange. The strategic acquisition aims to position SGA for Bitcoin treasury adoption as part of a broader digital asset strategy across Asia.

Independent Investment Aligns with Bitcoin Strategy

While Gerovich participates as an independent investor rather than representing Metaplanet directly, the move supports the company's expanding Bitcoin treasury approach. Top Win International, trading as SORA on the Nasdaq stock exchange, leads the consortium with plans to use proceeds for strategic asset acquisitions and general corporate purposes.

Asia-Wide Bitcoin Adoption Strategy

The SGA acquisition represents part of a comprehensive strategy to accelerate corporate Bitcoin adoption throughout Asia. The approach involves transforming traditional companies into Bitcoin-aligned entities through strategic deals, positioning firms like DV8 and SGA as vehicles for Bitcoin exposure in regional capital markets.

SGA Share Issuance and Regulatory Approval

The SGA board and Korean Financial Services Commission have approved issuing 58 million new shares to the consortium, though no definitive agreement has been signed. Upon completion, Top Wind, rebranded as Asia Strategy LLC, would become SGA's largest shareholder while the company maintains its core business operations.

Top Win's Digital Asset Transition

Since partnering with Sora Ventures in May 2025, Top Win has shifted focus toward digital assets. The company appointed Sora Ventures founder Jason Fang as co-CEO and board member, demonstrating deeper alignment with Bitcoin-first investment approaches.

Additional Asian Market Acquisitions

Earlier this month, a Metaplanet-led consortium including Sora Ventures, UTXO Management, Moon Inc., and Kliff Capital filed to acquire DV8, a publicly listed Thai electronics company, expanding the Bitcoin treasury strategy across Southeast Asia.

Metaplanet's Latest Bitcoin Purchase

Metaplanet announced another significant Bitcoin acquisition on Sunday, adding 797 BTC to its treasury at an average price of $117,451 per coin. This purchase brings the firm's total holdings to 16,352 BTC, currently valued at approximately $1.64 billion.

Bitcoin Treasury Performance

The company has acquired 1,112 BTC for approximately $117.2 million at roughly $105,435 per bitcoin, achieving a Bitcoin yield of 266.1% year-to-date in 2025. As of June 16, 2025, Metaplanet held 10,000 BTC acquired for about $947 million at an average price of $94,697 per bitcoin.

Following the Saylor Playbook

Metaplanet adopted Michael Saylor's Bitcoin strategy in April 2024, initially acquiring 97.85 BTC. According to Bloomberg data, the company's stock rose over 4,800% in the 12 months following its initial Bitcoin purchase, making it the world's fifth-largest public holder of Bitcoin.

Market Leadership Comparison

Saylor's Strategy, the first company to adopt the Bitcoin standard and popularize corporate Bitcoin adoption, holds 601,550 BTC at the time of writing, maintaining its position as the largest corporate Bitcoin holder globally.

Strategic Implications for Asian Markets

The consortium's approach demonstrates growing institutional Bitcoin adoption across Asia, with traditional companies increasingly viewing Bitcoin treasury strategies as viable corporate finance tools. This trend suggests continued expansion of Bitcoin adoption among publicly traded companies in the region.