The CEO of Metaplanet, Simon Gerovich, has joined a group of private investors aiming to take control of SGA, a software company listed on South Korea’s KOSDAQ exchange.
Although Gerovich is acting as an individual and not representing Metaplanet, the decision reflects his interest in promoting Bitcoin
The plan involves SGA issuing 58 million new shares to the investor group, which already has approval from both SGA’s board and South Korea’s financial authority.
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Once completed, the group, led by Nasdaq-listed Top Win International, which is changing its name to Asia Strategy LLC, will become SGA’s largest shareholder.
Top Win stated that the funds raised through this deal will be used to acquire strategic assets and meet the company’s operational needs.
While Bitcoin was not directly mentioned, the strategy is to help more Asian firms add Bitcoin to their balance sheets and provide stock market investors with a simple way to gain Bitcoin exposure without holding it directly.
SGA plans to continue running its core software and IT business while using the investor group’s experience to explore new digital asset initiatives. This includes potential blockchain-related services, developed alongside its traditional operations.
Meanwhile, Vanadi Coffee, a small café chain with just six stores in Spain, recently announced plans to invest up to €1 billion (about $1.17 billion) in Bitcoin. What is the purpose of the investment? Read the full story.
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