Parataxis Acquires Bridge Bio for $18 Million, Launching Bitcoin Treasury in Korea
Parataxis Holdings LLC has acquired a controlling stake in Bridge Biotherapeutics for $18 million. The deal, announced on June 20, will transform the biotech company into Parataxis Korea, a Bitcoin-focused treasury firm listed on South Korea’s KOSDAQ exchange.
Edward Chin, Parataxis’ founder, and Andrew Kim, a partner at Parataxis Capital, will join the board. Kim will become CEO. The new entity will deploy an institutional-grade Bitcoin strategy, combining biotech operations with BTC investments. This move follows Strategy and metaplanet’s accomplished Bitcoin treasury strategies.
Parataxis korea aims to build a disciplined capital allocation model with obvious governance and long-term Bitcoin accumulation. “We’re thrilled to introduce the first BTC treasury company in South Korea,” said Chin. The company will retain its biotech arm while adding a BTC-centric financial strategy.James Jungkue Lee will led the biotech division.
Parataxis Korea will focus on disciplined capital allocation and long-term BTC accumulation. “We believe this strategy will benefit shareholders and the country,” Chin explained. The company will retain its biotech arm while adopting a BTC-centric financial strategy.
Parataxis joins a growing trend.Strategy and Metaplanet have set precedents with their BTC holdings. Standard Chartered reports that 61 non-crypto firms have adopted Bitcoin treasuries, doubling as April. However, risks remain. Charles Schwab warns of liquidity issues if BTC prices fall.Standard Chartered estimates a drop below $90,000 could wipe out half of corporate BTC treasuries. Despite the risks, the move highlights Bitcoin’s role as an alternative reserve asset. This acquisition signals deeper institutional crypto penetration in Korea, reflecting BTC’s strategic importance and finite supply.
- parataxis acquires Bridge Bio for $18 million.
- Parataxis Korea will be a hybrid biotech-BTC treasury company.
- At least 61 firms have adopted Bitcoin treasuries, showing BTC’s emerging status as a reserve asset.
Parataxis Korea will balance biotech and BTC investments, setting a new standard for institutional crypto adoption. This acquisition reflects Bitcoin’s growing role as a strategic asset, despite potential risks.
