Parataxis Holdings to Go Public in South Korea with Bitcoin-Centric Reserve Platform

Parataxis Holdings LLC, an investment company specializing in digital assets, has announced its plans to go public in South Korea through a reverse merger. The company, an affiliate of Parataxis Capital Management LLC, has signed a definitive agreement with Bridge Biotherapeutics, Inc., a biotechnology company, to invest 25 billion Korean won. This investment will grant Parataxis Holdings a controlling stake in Bridge Biotherapeutics.

The transaction, which is subject to customary closing conditions including shareholder approval, will result in the creation of a Bitcoin-centric reserve platform in the South Korean public market. This platform will be backed by institutional investors with extensive experience in digital asset investments. Following the completion of the transaction, the company plans to change its corporate name to Parataxis Korea and will continue to be listed on KOSDAQ.

As part of this strategic move, Parataxis Holdings Founder and CEO, and Parataxis Capital Co-Founder and CEO Edward Chin will join the company's board of directors. Parataxis Capital Partner Andrew Kim will serve as the company's CEO and will also join the board. Bridge Bio Co-Founder James Jungkue Lee will continue to lead the company's core biotechnology business and retain a seat on the board.

This reverse merger represents a significant development in the digital asset landscape, as it brings a Bitcoin-centric reserve platform to the public market. The involvement of experienced institutional investors in this transaction underscores the growing acceptance and integration of digital assets within traditional financial markets. The creation of Parataxis Korea, with its focus on Bitcoin as a core reserve, is expected to attract further interest from investors seeking exposure to digital assets through a publicly traded entity.