Parataxis Acquires Bridge Biotherapeutics for $18.2 Million to Launch Bitcoin Treasury Firm in South Korea

Parataxis Holdings LLC has announced a significant strategic move by acquiring Bridge Biotherapeutics Inc., a South Korean biotech company, for KRW 25 billion ($18.2 million). This acquisition is part of Parataxis's plan to transform Bridge Biotherapeutics into South Korea’s first Bitcoin-focused treasury firm, to be named Parataxis Korea. The deal is expected to close after a shareholder vote, scheduled for August 2025, with the new entity remaining listed on the KOSDAQ stock exchange.

Parataxis Korea will operate as a Bitcoin treasury business, holding Bitcoin and assisting other institutions in doing the same. This initiative aims to provide a secure and efficient platform for institutional investors to gain exposure to Bitcoin, despite the regulatory challenges in the region. The new company will be led by Andrew Kim, a partner at Parataxis Capital, as the CEO, with Edward Chin, the CEO of Parataxis Holdings, joining the board. James Jungkue Lee, co-founder of Bridge Biotherapeutics, will continue to lead the biotech division and remain on the board.

Edward Chin expressed enthusiasm about the venture, stating, "We see South Korea as an important market in the evolution of BTC adoption. We are incredibly excited to create the first BTC treasury company in South Korea backed by an institutional-grade platform. We believe that building and growing a company like Parataxis Korea and accumulating a BTC treasury will benefit our shareholders as well as the country over the long run."

Parataxis Holdings, based in New York, has been focused on investing in digital assets like Bitcoin since its inception in 2019. The company manages hedge funds for investors and provides advice to family offices and institutions. This acquisition aligns with Parataxis's broader strategy to expand institutional access to Bitcoin and foster greater adoption of the cryptocurrency in mainstream financial systems.

The launch of Parataxis Korea is a strategic play to capitalize on the growing interest in cryptocurrencies and position South Korea as a leader in institutional Bitcoin adoption. However, the venture faces regulatory challenges that Parataxis Holdings is confident in navigating. The company’s institutional-grade platform is designed to offer a high level of security and compliance, ensuring that it meets all regulatory requirements while providing a seamless experience for its clients.

In addition to this acquisition, Parataxis is working on another fund with a similar goal and plans to launch more funds soon. Shin & Kim LLC is handling the legal work, and Deloitte is serving as the financial advisor for the transaction. This move not only positions Parataxis as a pioneer in institutional Bitcoin adoption but also sets a precedent for other companies looking to integrate cryptocurrencies into their business models. The success of this venture will depend on Parataxis’s ability to overcome regulatory challenges and provide a secure and efficient platform for institutional investors.