Bitplanet Reaches 300 Bitcoins in Holdings…Purchased via Upbit

Bitplanet, a South Korean crypto-asset (cryptocurrency) treasury firm, said on the 27th that it purchased 35 bitcoins (BTC) through a phased buying strategy over 26 days from the 23rd, bringing its total holdings to 300.

In the latest purchase, Bitplanet transferred tether (USDT) that had been held with its existing custodian to the South Korean crypto exchange Upbit, and then bought bitcoin. The company said this marks the first case of a domestically listed company purchasing spot bitcoin via Upbit.

With holdings now at 300, Bitplanet plans to further refine its crypto-asset-based treasury strategy while accelerating its shift toward an energy-based investment platform.

Lee Seong-hoon, CEO of Bitplanet, said, “Bitcoin is an asset with energy-intensive characteristics,” adding, “Going forward, we will focus on expanding new energy-based businesses so that we can grow into a platform that converts energy into digital capital.”