In brief
- Sora Ventures plans a capital raise of $1 billion to strengthen Bitcoin holdings among Asian firms.
- The company is working towards securing an additional $800 million dedicated to Bitcoin purchases in the coming months.
- Previously, Sora invested in Metaplanet, currently the leading holder of Bitcoin in Asia.
Venture capital firm Sora Ventures has announced its intention to amass $1 billion, directed at reinforcing
Bitcoin
reserves across businesses located in Asia.
Starting with an initial commitment of $200 million from its network of investors and partners, the company’s aim
is to add another $800 million to its Bitcoin holdings within the next six months.
According to a statement from Sora partner Luke Liu, this initiative marks the first substantial investment in Asia
designed to cultivate a robust network of Bitcoin treasury-holding entities, establishing what could be Asia’s
premier billion-dollar Bitcoin fund.
The fund will operate differently than other Bitcoin investment strategies in the region, such as Metaplanet, a
publicly traded company that possesses over 20,000 BTC, valued at more than $2.2 billion on its balance sheet.
Rather than simply holding Bitcoin, Sora’s fund will act as a centralized capital resource for institutions,
intended both to support existing Bitcoin treasury firms and to foster the creation of similar structures
worldwide.
Sora Ventures has not yet clarified the specific operational details of the fund.
Based in Taiwan, the firm is working to bring Asia up to speed with Western markets regarding institutional
Bitcoin adoption.
Jason Fang, the founder of Sora, explained that Asia has been a critical area for blockchain technology and
Bitcoin’s progression. While the US and EU have seen growing institutional investment in Bitcoin treasuries, Asia
has been more scattered in its approach.
Fang added that this marks a historical moment where institutional funds are combining, scaling from local to
regional, and now reaching a global level.
Last year, Sora invested in Metaplanet, Asia’s leading Bitcoin treasury entity. In July, the firm also
took part in acquiring DV8 in Thailand, a publicly traded
company that is now adopting a Bitcoin treasury strategy.
The Bitcoin treasury approach gained initial traction in 2020 with Michael Saylor and his company,
MicroStrategy. Data from
BitcoinTreasuries.net indicates that over 300 organizations now hold Bitcoin on
their balance sheets, accounting for more than 3.7 million BTC.
Bitcoin’s value has increased by 1.2% in the last 24 hours, trading at $110,842.
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