Bitcoin News Today: Parataxis Merges with SilverBox SPAC to Raise $640 Million for Bitcoin Treasury Firm

Parataxis Holdings has merged with SilverBox Corp IV, a special purpose acquisition company (SPAC), to raise up to $640 million, enabling the launch of a Bitcoin treasury firm listed on the New York Stock Exchange [1]. This merger marks a significant step in Parataxis’ strategy to expand its institutional-grade Bitcoin exposure, particularly in Asia, where regulatory and market conditions present both opportunities and challenges.

The transaction includes $240 million from the SPAC, subject to shareholder redemptions, and up to $400 million in private financing from Parataxis. Of this, $31 million will be immediately allocated to Bitcoin purchases, signaling the company’s confidence in the digital asset’s role in institutional treasuries [1]. The firm plans to develop a scalable investment platform, targeting markets such as South Korea, where demand for Bitcoin is strong but access to spot ETFs is limited.

Parataxis was founded in 2019 as Parataxis Capital Management, a digital asset investment manager for institutional clients. In June 2025, the firm acquired a majority stake in Bridge Biotherapeutics in South Korea, rebranding it as Parataxis Korea and establishing it as the country’s first Bitcoin-based treasury platform. Following the acquisition, Bridge’s shares surged by 350%, reflecting strong investor support [1]. This strategic move underscores Parataxis’ dual focus on digital assets and diversified corporate ventures.

In August 2025, Parataxis executed the merger with SilverBox, a SPAC that previously raised $200 million in an IPO in August 2024. The alliance accelerates Parataxis’ public market ambitions and aligns it with broader trends in corporate Bitcoin ownership. Currently, 289 companies globally hold 3.65 million Bitcoin, with a 4.3% increase recorded in the past month [1]. South Korea’s appetite for digital assets—combined with its lack of a spot Bitcoin ETF—provides Parataxis with a compelling market entry point.

The firm’s CEO, Edward Chin, emphasized the importance of trust in institutional-grade Bitcoin tools, particularly in markets where such infrastructure is lacking. Parataxis aims to offer yield-generating treasury services, positioning itself as a serious contender in a sector increasingly dominated by firms like MicroStrategy, which holds over 628,000 BTC [1]. With fresh capital and regulatory clarity, Parataxis is well-positioned to expand its footprint and influence in the evolving corporate Bitcoin space.

This merger also highlights the growing trend of SPACs facilitating digital asset innovation. By leveraging the public listing mechanism, Parataxis can enhance transparency, attract institutional investors, and scale its operations in a competitive and rapidly evolving market. If successful, the firm could establish a new benchmark for crypto-native companies seeking public market access.

Source: [1] Parataxis Merges with SPAC to Launch Bitcoin Treasury Firm (https://www.livebitcoinnews.com/parataxis-merges-with-spac-to-launch-bitcoin-treasury-firm/)