Parataxis Leads Bitcoin Treasury Strategy in Korea with $18 Million Acquisition
Parataxis is set to revolutionize South Korea’s crypto landscape. On June 20, Parataxis Holdings LLC announced a $18 million takeover of Bridge Biotherapeutics. This aligns Korea with global trends in institutional crypto adoption.
Once shareholders approve, Bridge Bio will transform into Parataxis Korea, a Bitcoin-focused treasury company listed on the KOSDAQ.Edward Chin, Parataxis’ founder, and Andrew kim will oversee the transition, with kim in the CEO role.
Parataxis Korea will implement a robust Bitcoin treasury strategy.The plan focuses on disciplined capital management, openness, and long-term Bitcoin accumulation. Chin hopes this move will benefit both shareholders and the nation’s economy.
The firm will blend biotech operations with a Bitcoin-centric financial strategy. James jungkue Lee will continue leading the biotech division.
Parataxis is following in the footsteps of Strategy and Metaplanet. Both companies have successfully integrated large Bitcoin holdings into their portfolios. This trend is gaining traction; Standard chartered reports that 61 non-crypto firms have adopted similar strategies since April.
Though, risks persist. A Charles Schwab analysis cautions that companies heavily invested in Bitcoin might face liquidity issues if the price drops sharply. Standard Chartered warns that a dip below $90,000 could decimate corporate Bitcoin reserves.
