Bitcoin News Today: Parataxis to Buy $640M Bitcoin via SPAC Merger with SilverBox

In a strategic move signaling deepening institutional adoption of Bitcoin, Parataxis Holdings, a digital asset manager, announced its intent to purchase up to $640 million in Bitcoin using proceeds from its pending SPAC merger with SilverBox Corp IV [1]. The transaction, disclosed earlier in June, will take the firm public on the New York Stock Exchange under the ticker symbol “PRTX,” with an implied equity value of $800 million at $10 per share [2]. The funds will be allocated gradually to build a Bitcoin treasury, with the goal of generating yield for investors through institutional asset management practices [3].

The SPAC merger provides $240 million in upfront capital and an additional $400 million via an equity line of credit, with $31 million already deployed to the immediate purchase of Bitcoin [2]. CEO Edward Chin highlighted that the capital will enable Parataxis to expand its Bitcoin treasury strategy in the U.S. and enter the South Korean market, where it has already made inroads through investments in Bridge Biotherapeutics, a stock that has risen nearly 4.5 times since the merger announcement [4]. The firm’s public listing is seen as a strategic step to bolster credibility and capital access in the evolving crypto finance landscape.

This move is part of a broader trend of institutional players integrating Bitcoin into corporate treasury strategies. Parataxis joins companies like MicroStrategy and Tesla in allocating significant balance sheet assets to Bitcoin, reinforcing the digital asset’s role as a hedge against inflation and economic uncertainty [2]. Analysts suggest that if more institutions follow suit, Bitcoin’s market cap could grow more rapidly, driven by increased demand from long-term holders [1].

Parataxis’ decision also reflects a shift in market sentiment where Bitcoin is increasingly viewed as a legitimate asset class rather than a speculative one. The firm’s approach—leveraging public market capital for Bitcoin treasury expansion—highlights the convergence of traditional finance and digital assets. As more crypto-native firms go public through SPACs or direct listings, the institutional legitimacy and liquidity of the sector are expected to improve [5]. SilverBox Corp IV, the SPAC involved in the merger, has seen a 5% gain year-to-date in 2025, with a 1.7% after-hours rise to $10.78 following the announcement [6].

The firm’s move underscores Bitcoin’s growing acceptance as a store of value and inflation hedge. With Parataxis now positioned to scale its Bitcoin treasury strategy, the firm aims to provide institutional-grade yield generation while maintaining the flexibility to adapt to market conditions [3]. The gradual allocation approach ensures that purchases are made strategically, aligning with broader market dynamics and long-term investment goals.

Parataxis Holdings’ SPAC merger and Bitcoin treasury strategy represent a significant milestone for the digital asset space. By combining institutional-grade asset management with public market liquidity, the firm aims to offer a compelling investment proposition for a broad range of investors. As the line between traditional finance and crypto continues to blur, Parataxis’ actions may encourage further institutional participation, potentially reshaping the future of asset allocation in global markets.

Sources:

[1] Cointelegraph – [https://cointelegraph.com/news/parataxis-ipo-640-millon-spac-merger-silverbox](https://cointelegraph.com/news/parataxis-ipo-640-millon-spac-merger-silverbox)

[2] AInvest – [https://www.ainvest.com/news/bitcoin-news-today-parataxis-public-640m-spac-deal-silverbox-corp-iv-2508/](https://www.ainvest.com/news/bitcoin-news-today-parataxis-public-640m-spac-deal-silverbox-corp-iv-2508/)

[3] AInvest – [https://www.ainvest.com/news/bitcoin-news-today-parataxis-public-640m-spac-merger-bitcoin-focus-2508/](https://www.ainvest.com/news/bitcoin-news-today-parataxis-public-640m-spac-merger-bitcoin-focus-2508/)

[5] Coinpedia – [https://coinpedia.org/news/trump-linked-bitcoin-miner-american-bitcoin-corp-to-list-on-nasdaq/](https://coinpedia.org/news/trump-linked-bitcoin-miner-american-bitcoin-corp-to-list-on-nasdaq/)