Parataxis Holdings Acquires Bridge Biotherapeutics for 18.5 Million USD to Launch Bitcoin Treasury Platform in South Korea

Parataxis Holdings has made a significant move into the Asian market with the acquisition of Bridge Biotherapeutics, a biotech company listed on South Korea’s KOSDAQ exchange. The acquisition is valued at 25 billion Korean won, approximately 18.5 million U.S. dollars. Upon completion of the transaction, the company will be renamed Parataxis Korea and will continue to be listed on the KOSDAQ.

This acquisition marks a pivotal moment for Parataxis Holdings as it plans to establish South Korea’s first institutionally supported Bitcoin treasury platform. The move is inspired by similar models in the United States and Japan, such as Strategy and Metaplanet. By offering easier access to Bitcoin through public markets, Parataxis aims to strengthen its position in Asia’s growing digital asset space. South Korea is seen as a key market for the firm’s future adoption of digital assets.

The deal is subject to the consent of Bridge Biotherapeutics’ shareholders. Once completed, the new entity will operate as a Bitcoin-native treasury-investment company, leveraging its extensive experience in the digital asset sector. The transaction will also bring about leadership changes. Innovation Edward Chin, CEO and Founder of Parataxis Holdings, will join the new Board of Directors. Andrew Kim, a Parataxis Capital partner, will become the new CEO of Parataxis Korea and a board member. James Jungkue Lee, a co-founder of Bridge Biotherapeutics, will continue to lead the core operations of the biotech division and remain on the board.

Andrew Kim highlighted the long-term value of the project, noting that South Korea is emerging as a significant player in the adoption of Bitcoin. He emphasized that the platform provides institutions with a secure and well-regulated route to exposure to BTC, underscoring the importance of good financial practice and openness.

Edward Chin also shared his thoughts on the deal, stating that it would benefit both shareholders and the nation. He emphasized that holding Bitcoin in South Korea is a strategic move, given its limited supply and increasing long-term value. Chin called Bitcoin a powerful and strategic asset, further solidifying Parataxis Holdings’ commitment to digital assets.

As part of its strategy, Parataxis Holdings is introducing a new investment fund similar in nature to the Bitcoin treasury platform. Additional fund vehicles are also in the pipeline, designed to increase access to digital assets and facilitate the broader Bitcoin treasury strategy. The company will provide further updates following a shareholders meeting scheduled for August. Shin & Kim LLC are offering legal support for the deal, while Deloitte is providing financial support.

Parataxis Capital Management, established in 2019, focuses on a diversified range of digital asset investments. The firm manages high-net-worth hedge funds and provides wealth advisory services for institutions. An affiliate of Parataxis is at the forefront of introducing Bitcoin-oriented investment strategies into legitimate areas of the financial markets, starting with South Korea.

By making this bold move, Parataxis is not only investing in Bitcoin but also shaping the future of institutional crypto adoption in Asia. This step signals growing confidence in integrating digital assets into traditional financial systems across the region.