Introduction
In a groundbreaking step for the region, Sora Ventures has launched Asia’s inaugural Bitcoin treasury fund, with ambitions to acquire a staggering $1 billion in Bitcoin over the next half year. This pioneering initiative was announced during Taipei Blockchain Week and is supported by an initial commitment of $200 million from various regional partners and investors.
Strategic Investments
This strategic move builds on Sora Ventures’ previous efforts in fostering corporate engagement with Bitcoin in Asia. Just last year, the firm invested in Japan’s Metaplanet, facilitating its first allocation of approximately $6.5 million (¥1 billion) towards Bitcoin purchases. Following this, Sora Ventures has forayed into investments with other regional firms such as Hong Kong’s Moon Inc., Thailand’s DV8, and South Korea’s BitPlanet, striving to implement and expand treasury-style investment models across different Asian markets.
Market Context
Historically, significant Bitcoin treasury activities have predominantly taken place in the United States, where major corporations have already embraced Bitcoin as a treasury asset. With this new fund, Sora Ventures is tapping into the increasing interest among Asian institutions to adopt similar strategies that have gained traction in both the U.S. and Europe.
“This investment exemplifies the first major commitment in Asia towards fostering a network of Bitcoin treasury firms, spearheading the establishment of the continent’s first $1 billion treasury fund,” remarked Luke Liu, a partner at Sora Ventures.
Growing Interest in Bitcoin
In parallel with Sora’s venture, Bitcoin treasury firms across Asia are also ramping up their investments. Notably, Metaplanet has recently acquired approval from its shareholders to raise capital by issuing up to 555 million new shares aimed at boosting its Bitcoin stock, which has now exceeded 20,000 BTC, positioning it as the sixth-largest corporate holder in the space.
