Parataxis Acquires Bridge Biotherapeutics to Launch Korea Bitcoin Treasury
Parataxis buys Bridge Biotherapeutics for $18.5M, rebrands as Parataxis Korea to build institutional Bitcoin treasury on KOSDAQ.
- Parataxis invests ₩25 billion (~$18.5 M) to acquire Bridge Biotherapeutics.
- Bridge Biotherapeutics will be renamed Parataxis Korea and remain KOSDAQ-listed.
- Launching an institutional-grade Bitcoin treasury platform in South Korea.
Biotech to Bitcoin: A Bold Strategic Shift
In a bold pivot toward crypto innovation, Parataxis Holdings LLC, a U.S.-based digital asset investment firm, has acquired a controlling stake in Bridge Biotherapeutics, a publicly traded South Korean biotech company. The deal, valued at ₩25 billion (roughly $18.5 million), marks a transformative move to rebrand the company as Parataxis Korea.
After the acquisition, the rebranded firm will maintain its listing on the KOSDAQ exchange. This structure allows Parataxis to use the public market shell as a launchpad for South Korea’s first institutionally-backed Bitcoin treasury platform. The goal: bring U.S.-style digital asset strategies into the Korean financial ecosystem.
Building the Bitcoin Treasury Platform
Parataxis Korea plans to manage and hold Bitcoin as a core treasury asset—similar to strategies used by firms like MicroStrategy in the U.S. This is designed to introduce regulated, transparent crypto exposure for Korean investors and institutions.
Edward Chin, CEO of Parataxis Holdings, will join the new board, and Parataxis partner Andrew Kim will become CEO of the rebranded entity. Bridge Biotherapeutics’ co-founder will continue to oversee the company’s remaining biotech operations.
This hybrid model—a public firm combining biotech and Bitcoin treasury management—is unprecedented in the Korean market and reflects a growing global trend of integrating crypto into corporate finance.
What It Means for South Korea and Beyond
This move could reshape how institutional investors in Asia view crypto. It also reflects a maturing market that’s ready for regulated, public-facing crypto asset strategies. If successful, Parataxis Korea could serve as a model for similar transitions across the region, encouraging other firms to explore Bitcoin treasury frameworks.
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