Bitmax Holds 230 Bitcoins, Becomes Top Holder Among Listed Companies in South Korea

KOSDAQ-listed Bitmax announced on June 2 that it has acquired an additional 35.63 Bitcoins, bringing its total holdings to 230.26 Bitcoins and making it the top Bitcoin holder among listed companies in South Korea.

With this latest purchase, Bitmax's total holdings have increased to 230.26 Bitcoins, overtaking Wemade, the previous leader, to become the number one listed company in South Korea in terms of Bitcoin holdings. Bitmax now ranks 13th in Asia and 48th globally.

The company stated, "Bitmax purchased a total of 69.6 Bitcoins in three separate transactions in May alone," and added, "This acquisition is not a one-off transaction, but part of a long-term plan to position digital assets as strategic assets." The company also said, "Of the 50 billion KRW raised through the fourth round of convertible bonds, 40 billion KRW will also be used to purchase Bitcoins."

Bitcoin is gaining attention among major global corporations as a hedge against inflation and as a new pillar of corporate assets.

Metaplanet, often referred to as the 'MicroStrategy of Japan,' shifted its focus from its traditional hotel and tourism business to a Bitcoin-centered strategy last year. Recently, it purchased an additional 1,004 Bitcoins, bringing its total holdings to 7,800 Bitcoins. The company's stock price has surged approximately 3,900% over the past year, drawing significant attention in the market.

After large-scale Bitcoin acquisitions, MicroStrategy's stock price soared by more than 400%, while Semler Scientific saw its stock price jump 29% in a single day following its announcement of a Bitcoin purchase.

In Hong Kong, Boyaa Interactive's stock price rose 24% in a single day after announcing its Bitcoin investment plan in August 2023. Over the next 16 months, its share price increase exceeded 1,200%, making it a notable success story in the global market.

As global competition to accumulate Bitcoin intensifies, Standard Chartered (SC) recently released a report projecting that Bitcoin could reach $120,000 in the second quarter and $200,000 by the end of the year. Bitcoin is increasingly being recognized not just as a speculative asset, but as a core pillar of corporate financial strategy.

Bitmax, now the top Bitcoin holder among listed companies in South Korea, is being highlighted as a leading example of strategic digital asset management. As the company expands its Bitcoin-centered portfolio, expectations for increased corporate value and share price are also rising.

A company representative stated, "Rather than focusing on short-term profits, we view digital assets as a long-term store of value." The representative added, "Through continued acquisition of virtual assets, we aim to build both financial stability and a foundation for future growth." The spokesperson further emphasized, "As a representative company in South Korea's digital asset strategy sector, we will secure both long-term profitability and investor trust."