Parataxis Holdings, linked to Parataxis Capital Management, is launching a Bitcoin-focused treasury platform in South Korea. The firm announced a $18.5 million investment in Bridge Biotherapeutics, a public biotech company, which will be rebranded as Parataxis Korea to facilitate institutional Bitcoin exposure. Andrew Kim, a partner at Parataxis Capital, noted the rising global interest in Bitcoin treasury strategies, particularly in South Korea, which is seen as a key market for Bitcoin adoption. Although South Korea currently prohibits Bitcoin ETFs and institutional crypto investments, a pilot program will allow 3,500 corporations and professional investors to open 'real-name' accounts by mid-2025. This initiative follows a broader trend of corporate Bitcoin adoption, with over 237 public companies now holding Bitcoin. Following the acquisition announcement, Bridge Biotherapeutics' stock surged over 20%, despite being down significantly year-to-date. Meanwhile, other companies like Pri0r1ty Intelligence Group are also exploring Bitcoin as a reserve asset. Read more AI-generated news on: https://app.chaingpt.org/news