Parataxis Holdings has announced the launch of South Korea's first public Bitcoin treasury company by acquiring a controlling stake in Bridge Bio.
Parataxis Acquires Bridge Bio to Launch BTC Treasury Arm
Parataxis Holdings has acquired a controlling stake in biotech firm Bridge Bio for $18.5 million. After the acquisition, Bridge Bio will be renamed Parataxis Korea, focusing on Bitcoin treasury management. This marks a significant move for South Korea, paving the way for corporate crypto investing.
Inspired by MicroStrategy’s Bitcoin Playbook
Parataxis is following the successful strategy of companies like MicroStrategy, which holds 592,100 BTC worth over $61.4 billion. Parataxis partner Andrew Kim stated that Bitcoin’s long-term potential is crucial for investors and the national economy.
Corporate Bitcoin Adoption Gains Steam in Korea
Despite strict crypto regulations in South Korea, such as the ban on spot Bitcoin ETFs, corporate interest is on the rise. A pilot program in 2025 will allow 3,500 companies to open verified crypto accounts. Parataxis CEO Edward Chin mentioned that the Bitcoin strategy aims to benefit both investors and the nation.
The emergence of Parataxis Korea marks a significant step for South Korea in corporate Bitcoin investment, potentially encouraging other companies in the region to follow suit.
