Parataxis Holdings will turn Bridge Bio into South Korea’s first Bitcoin treasury company through an $18.5M deal.
Bridge Bio stock rose 20% after the acquisition news but remains down over 74% year to date.
The company aims to bring institutional access to Bitcoin in South Korea using a regulated public market platform.
Parataxis Holdings has announced plans to establish South Korea’s first Bitcoin Treasury company. The firm will achieve this through a controlling stake acquisition in Bridge Biotherapeutics, a KOSDAQ-listed biotech company. Parataxis will invest $18.5 million in the firm, securing a majority position.
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This acquisition aims to convert Bridge Biotherapeutics into a Bitcoin-native treasury platform. Once the deal closes, the company will operate under the new name ‘Parataxis Korea’. Despite the change, it will remain listed on the KOSDAQ market.
Acquisition Terms and Market Movement
Parataxis and Bridge Biotherapeutics have signed a definitive agreement for the acquisition. The transaction still awaits shareholder approval and other standard closing conditions. Upon completion, Parataxis Korea will become the first publicly listed company in South Korea to hold Bitcoin as a reserve asset.
Bridge Bio’s stock responded to the news. Trading data shows a 20% increase in the past 24 hours, with the share price closing at 943 South Korean won. Despite the recent spike, the stock remains down 74% year-to-date.
Strategic Vision Aligns with Global Trends
Parataxis Holdings plans to follow a model seen in other countries. In the United States, Strategy has built a strong Bitcoin position. The company now holds over 10,000 BTC and recently added more. In Japan, Metaplanet adopted a similar strategy and now holds a comparable amount of Bitcoin.
Parataxis views South Korea as a vital market for Bitcoin treasury expansion. The firm plans to introduce institutional-grade access to Bitcoin through regulated and disciplined structures. This includes transparency, governance, and long-term strategic positioning.
Rebranding and Treasury Objective
Following the acquisition, Bridge Bio will change its name and corporate direction. The company will shift its focus away from biotechnology and concentrate on digital asset treasury strategies. This approach marks a new path in South Korea’s corporate landscape.
By holding Bitcoin as a primary treasury asset, Parataxis Korea aims to reflect broader global trends. Bitcoin’s fixed supply and growing demand continue to attract institutional interest worldwide. The company believes this strategy could benefit shareholders over time.
South Korea has witnessed growing retail interest in digital assets. However, institutional adoption has remained limited. Parataxis seeks to change this by providing a regulated and strategic model.
With the deal in motion, all eyes remain on shareholder decisions and regulatory approvals. The transformation of a biotech firm into a Bitcoin treasury company signals a significant shift in market direction.
