Investment firm Sora Ventures reveals Asia's inaugural Bitcoin treasury fund worth a billion dollars
Asian institutions are following in the footsteps of their U.S. and European counterparts, adopting strategies for Bitcoin treasury management. This shift is particularly evident with the announcement of Sora Ventures' commitment to establishing the region's first $1 billion treasury fund for Bitcoin.
Sora Ventures, a prominent Asian investment firm, has secured an initial financial backing of $200 million for its newly announced Bitcoin Treasury Fund. This backing comes from a variety of institutional partners and investors across Asia, although the specific institutions involved have not been publicly disclosed.
The fund is intended to support existing Bitcoin treasury firms in Asia, such as Moon Inc. (Hong Kong), DV8 (Thailand), BitPlanet (South Korea), and Metaplanet (Japan). While these entities are not investing directly in the fund, their involvement suggests collaboration or synergy rather than direct investment.
Meanwhile, Metaplanet, an Asian Bitcoin treasury company, has recently made headlines by surpassing 20,000 Bitcoin in its total holdings. This makes Metaplanet the sixth-largest corporate holder of Bitcoin.
In another significant development, Metaplanet has secured shareholder approval to raise funds through the issuance of up to 555 million new shares. The purpose of this fundraise is to buy more Bitcoin, further strengthening Metaplanet's position in the Bitcoin market.
Elsewhere in the world, Boerse Stuttgart, a European company, has launched the first pan-European blockchain settlement platform. This move underscores the growing global interest in blockchain technology and digital assets.
Luke Liu, Partner at Sora Ventures, commented on the significance of this large-scale commitment to Bitcoin treasury firms in Asia. He stated, "This is the first time Asia has seen such a commitment, marking a major step forward in the region's adoption of Bitcoin as a viable investment option."
As these developments unfold, it is clear that the trend towards Bitcoin treasury management is gaining momentum in Asia, mirroring similar trends in the U.S. and Europe. The potential for further growth and innovation in this space is vast, and it will be interesting to see how these developments shape the future of Bitcoin and digital asset management in Asia.
