Metaplanet CEO participates in acquiring the South Korean software company SGA, promoting a new "Bitcoin reserve company"

Under the connection of the CEO of Japan's Metaplanet consortium, Top Win International plans to invest $25 million in South Korea's SGA, replicating the Strategy coin purchase model. (Background: The eight major banks in Korea plan to jointly establish a Korean won stablecoin issuance company: they cannot let US dollar stablecoins dominate the local market) (Context: What campaign promises does South Korea's new president Lee Jae-myung have regarding Crypto and AI?) The global Bitcoin craze among companies is accelerating from the United States to Asia. Simon Gerovich, the CEO of Metaplanet, known as the Japanese version of MicroStrategy, plans to acquire South Korea's KOSDAQ software firm SGA and turn it into a new "Bitcoin vehicle." According to a report by Cointelegraph on the 14th, SGA's board and the Financial Services Commission (FSC) have approved the issuance of 58.86 million additional shares, raising approximately $25 million. If the agreement is finalized, SGA will incorporate Bitcoin (BTC) into its asset allocation while retaining its software business. According to the announcement, important investors include: Hong Kong-listed Top Win International Ltd., Metaplanet CEO Simon Gerovich (in his personal capacity), KCGI (a well-known governance-oriented PE firm in Korea), etc. Implementing M&A strategies in Asia, Top Win has shifted its focus to digital assets since collaborating with Sora Ventures in May. As part of this transformation, the company appointed Sora Ventures founder Jason Fang as co-CEO and board member. Earlier this month, the investor consortium led by Metaplanet (including Sora Ventures, UTXO Management, Moon Inc., and Kliff Capital) just applied to acquire the Thai-listed electronic company DV8. Extended reading: Thai-listed company DV8 announced the launch of BTC reserves and the establishment of a DeFi digital bank, transforming retailers into Bitcoin vaults. Metaplanet replicates the Strategy operation. Metaplanet uses "M&A + Bitcoin reserves" to replicate MicroStrategy's model in Asia: raising funds through zero-interest convertible bonds or capital increases, then buying large amounts of Bitcoin to expose shareholders directly. Since launching the strategy in April 2024, the company's stock price has surged by 4,800% over 12 months. According to statistics, Metaplanet recently acquired an additional 797 Bitcoins at an average price of $117,451, bringing its total holdings to 16,352 Bitcoins, with a market capitalization of approximately $1.64 billion. The company aims to hold 1% of the world's Bitcoin, about 210,000 coins, by 2027. However, if Bitcoin's price falls, financial pressures from debt repayment and equity dilution will also increase. Related reports: Korea "abandoning CBDC" turns to private stablecoins, the central bank calls: the first wave opens banks, then allows private companies. Korean media K Wave Media announces the establishment of Bitcoin reserves: plans to buy $500 million BTC, KWM's stock price skyrocketed by 135%. <Metaplanet CEO participates in acquiring South Korean software company SGA, promoting a new "Bitcoin reserve enterprise"> This article was first published in BlockTempo, the most influential blockchain news media.