Bitcoin Consortium Targets Thai Public Firm in Treasury Strategy Push
A consortium of Bitcoin investors is acquiring at least 75% of DV8, a Thai retail and consumer electronics firm, through a Voluntary Tender Offer. The group includes Metaplanet Inc. backers, UTXO Management, Sora Ventures, and Kliff Capital, with Metaplanet CEO Simon Gerovich as an investor. Moon Inc., a Hong Kong telecom firm, is also involved. The consortium aims to expand the Bitcoin treasury model in Southeast Asia. Jason Fang from Sora Ventures expressed enthusiasm for the Thai market but did not provide details on governance or operational balance with Bitcoin strategies. The move aligns with a trend of small-cap firms adopting Bitcoin treasury strategies, though experts warn of risks and potential instability. Some view Bitcoin treasury strategies as signs of strength when executed with clarity, while others see them as short-term stunts by struggling companies. Concerns exist about systemic risks from firms increasing debt or issuing shares to fund Bitcoin purchases. The effectiveness of such strategies may depend on organizational structure and financial health.
