Bitcoin News Today: Parataxis Merges With SPAC to Form $640M Bitcoin Treasury Company

Parataxis Holdings has completed a merger with SilverBox Corp IV, a special purpose acquisition company (SPAC), to establish a publicly traded Bitcoin treasury company. The combined entity, expected to list on the New York Stock Exchange under the ticker symbol PRTX, aims to raise up to $640 million in capital to support its Bitcoin-focused strategy. This includes an immediate allocation of $31 million for the direct purchase of Bitcoin, signaling a significant institutional commitment to digital assets [1].

The merger structure includes up to $240 million in funding for Parataxis, contingent upon shareholder redemptions, while the firm also retains the ability to raise an additional $400 million through equity issuance [2]. This capital will be used to scale its Bitcoin treasury model, a strategy that has gained traction following its adoption by companies like MicroStrategy. The broader trend of corporate Bitcoin adoption has resulted in over $90 billion in combined holdings among similar firms, according to The Block Data Dashboard [3].

Edward Chin, founder and CEO of Parataxis, highlighted the strategic importance of the merger, stating that it aligns with the company’s long-term vision to offer a differentiated exposure to Bitcoin through a publicly listed vehicle. The firm has previously announced plans to expand its operations into the South Korean market, having entered into a definitive agreement with local partners in June [4].

By leveraging the SPAC route, Parataxis aims to bring Bitcoin investment vehicles to both institutional and retail investors using traditional financial infrastructure. Listing on the NYSE is expected to enhance liquidity and transparency for its Bitcoin treasury strategy while operating under established regulatory oversight [5]. The move has drawn industry attention, with analysts noting its potential to accelerate Bitcoin’s adoption as a corporate reserve asset across the U.S. and Asia [6].

The transaction reflects a broader shift in the crypto market toward institutional-grade investment structures. As Bitcoin continues to demonstrate resilience with a price of $115,050.38 and a market cap of $2.29 trillion, the Parataxis-SilverBox deal could serve as a model for future capital-raising efforts in the digital asset space [1].

Source:

[1] Theblock - [https://www.theblock.co/post/365889/parataxis-merges-with-spac-with-aim-to-form-640-million-bitcoin-treasury-company](https://www.theblock.co/post/365889/parataxis-merges-with-spac-with-aim-to-form-640-million-bitcoin-treasury-company)

[5] Coindesk - [https://www.coindesk.com/markets/2025/08/06/bitcoin-asset-manager-parataxis-to-go-public-in-usd400m-spac-deal-backed-by-silverbox](https://www.coindesk.com/markets/2025/08/06/bitcoin-asset-manager-parataxis-to-go-public-in-usd400m-spac-deal-backed-by-silverbox)

[6] Mitrade - [https://www.mitrade.com/au/insights/news/live-news/article-3-1019611-20250807](https://www.mitrade.com/au/insights/news/live-news/article-3-1019611-20250807)