Bitcoin Consortium Led by Metaplanet Founders Bids for Thailand’s DV8 Public Company
- Antwan Koss
- July 4, 2025
- Finance
- 0 Comments
Bitcoin Heavyweights Team Up for Thai Firm Acquisition
A group of big names in the Bitcoin world—many of them behind Japan’s Metaplanet, sometimes called Asia’s answer to MicroStrategy—just made a play for Thailand’s DV8 Public Company Limited. The voluntary tender offer was announced July 3, though nobody’s talking numbers yet.
The consortium is a mix of firms and individuals with deep ties to Bitcoin and Asian markets. UTXO Management, Sora Ventures, Kliff Capital, and a few others are in on the deal. It’s a cross-border push, really, pulling together investors from Japan, Hong Kong, Thailand, and the U.S.
Who’s Behind the Bid?
UTXO Management, co-founded by Tyler Evans and Bitcoin Magazine’s David Bailey, isn’t exactly a household name, but it’s got fingers in a lot of pies—public and private markets, mostly Bitcoin-focused. Then there’s Sora Ventures, run by Jason Fang, which has backed dozens of companies in crypto and decentralized finance.
Kliff Capital, based in Thailand, is another key player. Founded by Annie Yang (ex-Goldman Sachs and KKR) alongside Tanat Tananivit and Kip Tiaviwat, the firm’s known for alternative investments.
Gerovich and Fang, meanwhile, have been driving Metaplanet’s Bitcoin-heavy treasury strategy. Moon Inc. (listed in Hong Kong) and AsiaStrategy (on Nasdaq) are also part of the bid, both no strangers to Bitcoin-backed corporate moves.
Rounding out the group is Mythos Group, a digital asset holding company that dabbles in venture funding and treasury deals.
Why This Matters
It’s not just another acquisition. This feels like a deliberate step to spread the Bitcoin treasury model further into Asia, especially Thailand. The country’s capital markets haven’t fully embraced digital assets yet, but with players like these jumping in, that might change.
Then again, nobody’s saying how much money’s on the table. The lack of financial details leaves room for speculation—is this a small strategic move or something bigger? Hard to say.
One thing’s clear, though: these investors aren’t just throwing cash around. They’re betting on a shift in how companies handle reserves, with Bitcoin at the center. Whether it pays off? Well, that’s the question.
*Disclosure: Sora Ventures has invested in CryptoSlate.*
