Bitplanet Begins Daily Bitcoin Buying and Sets 10,000 BTC Goal

South Korean public company Bitplanet has completed its first purchase of 93 BTC, marking the beginning of an aggressive treasury strategy to accumulate significant Bitcoin reserves.

Supported by Metaplanet CEO Simon Gerovich and Sora Ventures, the company has officially begun a daily Bitcoin accumulation plan, aiming to position itself as a pioneer in corporate Bitcoin adoption.

Bitplanet Targets 10,000 BTC as Corporate Interest Grows

Bitplanet says its acquisition is the first of its kind among South Korea’s publicly listed companies. The firm plans to accumulate 10,000 BTC, supported by $40 million in funding and a strategic business rebrand.

Co-CEO Paul Lee stated that the company’s approach “allows for legitimate and prudent risk management” as it builds long-term reserves in Bitcoin. Lee also revealed that Bitplanet had already been buying Bitcoin daily for two weeks before the announcement, with all transactions monitored and disclosed through platforms supervised by South Korea’s Financial Services Commission (FSC).

Bitcoin BTC Price. Source: CoinGecko

The accumulation comes as Bitcoin rebounds from the liquidation of $19 billion in futures positions earlier this month, while renewed Bitcoin ETF inflows exceeding $446 million have helped restore market momentum.

Regulation and Market Outlook

In August 2025, Bitplanet confirmed its shift from operating as SGA Co. to a Bitcoin-focused treasury model. Originally founded in 1997 and known for its work in cybersecurity and infrastructure, the company is now betting on digital assets as a core strategic direction.

South Korea’s Digital Assets Law, introduced in June 2025, will create unified standards for crypto accounting on corporate balance sheets by 2027. According to Lee, Bitplanet is “already applying stricter interpretations of FSC guidelines” to stay ahead of regulatory changes and ensure a smooth transition.

Source: https://coinpaper.com/11912/bitplanet-becomes-first-public-korean-company-to-launch-daily-bitcoin-accumulation-plan

Highlights: The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand. The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones. The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand. On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks. BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity. On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1. BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand. The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones. BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark. Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.