Crypto-focused venture capital firm Sora Ventures has unveiled a $1 billion Bitcoin (CRYPTO: BTC) treasury fund, with plans to acquire the full allocation within six months.
What Happened: The announcement was made by founder Jason Fang at Taipei Blockchain Week, where he described the initiative as "Asia's first $1 billion Bitcoin treasury fund."
The fund is backed by $200 million in capital commitments from institutional partners across the region.
Unlike Asia's individual Bitcoin treasury firms, such as Japan's Metaplanet (OTC:MTPLF), Hong Kong's Moon Inc. (HKG:1723), Thailand's DV8 (SET:DV8), and South Korea's BitPlanet (KOSDAQ:049470), which hold Bitcoin directly on their balance sheets, Sora's vehicle will pool institutional capital to replicate treasury models across Asia and globally.
"This is the first time in history that institutional money has come together, from local to regional, and now to a global stage," Fang said during his presentation.
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Why It Matters: The firm said its goal is to accelerate Bitcoin adoption among corporate treasuries, reinforce support for Asia's early Bitcoin pioneers, and create synergies between local and international efforts to strengthen Bitcoin's position as a reserve asset.
Recent activity underscores rising momentum in Asia's Bitcoin treasuries.
Japan's Metaplanet, the region's largest corporate holder, purchased 1,009 BTC earlier this week, lifting its total to 20,000 BTC, worth about $2.2 billion at current prices.
Other notable holders include Cango Inc. (NYSE:CANG), with more than $570 million in Bitcoin, and mining company Bitfufu (NASDAQ:FUFU), with holdings exceeding $200 million, according to BitcoinTreasuries.NET.
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