According to Cointelegraph, Parataxis Holdings will launch a Bitcoin-native treasury platform in South Korea. The company announced an investment of $18.5 million in Bridge Biotherapeutics and will rename it Parataxis Korea as a treasury tool for institutional BTC exposure.
Andrew Kim stated that inspired by the BTC treasury strategies of U.S. and Japanese companies, institutional interest in BTC is growing globally. South Korea is seen as an important market for BTC adoption. South Korea currently prohibits BTC ETFs and institutional crypto investments but plans to gradually open up.
Bridge Biotherapeutics' stock rose 20% on acquisition news, but is still down 74% year-to-date. Pri0r1ty Intelligence Group announced the adoption of BTC as a reserve asset, causing its stock price to rise 84%. GameStop's stock price fell 22% due to an increase in convertible note issuance.