Parataxis Acquires Bridge Biotherapeutics to Launch Bitcoin Treasury in Korea
Parataxis Holdings, part of Parataxis Capital Management, will invest 29 billion won (US$18.5 million) to acquire a controlling stake in Seoul‐listed Bridge Biotherapeutics, pending shareholder approval. The biotech firm will be rebranded Parataxis Korea and relisted on KOSDAQ. Andrew Kim of Parataxis Capital will become CEO and Edward Chin joins the board, while James Jungkue Lee leads a retained biotech division. Parataxis Korea plans an institutional-grade Bitcoin treasury strategy, emphasizing disciplined capital allocation, transparent governance and long-term accumulation. This move follows precedent from MicroStrategy (582,000 BTC) and Japan’s Metaplanet (10,000 BTC) and taps rising global demand: Standard Chartered reports 61 non-crypto firms now hold Bitcoin in treasury, doubling since April. The initiative aligns with South Korea’s 2025 Financial Services Commission pilot for real-name crypto accounts. Bridge Biotherapeutics shares jumped over 20% intraday after the deal was announced, though they remain down 74% year-to-date. The combined assets of public companies’ Bitcoin treasury strategies now approach 4% of total BTC supply.
Bullish
Parataxis’s launch of an institutional-grade Bitcoin treasury strategy signifies growing corporate adoption of BTC, which historically boosts market confidence and demand. Short term, announcements often trigger price rallies as traders anticipate increased buying pressure from institutional players. Longer term, the trend of non-crypto firms allocating parts of their treasury to Bitcoin supports sustained accumulation, reducing available supply and underpinning price floors. The alignment with South Korea’s regulatory pilot further legitimizes corporate Bitcoin holdings, likely attracting more institutional interest and reinforcing bullish momentum.