Parataxis Holdings invests in South Korean biotech for Bitcoin treasury
- Parataxis Holdings will invest $18.5 million into Bridge Biotherapeutics, a publicly traded biotech company.
- The investment aims to establish a Bitcoin-native treasury platform in the South Korean public market.
- South Korea currently bans Bitcoin exchange-traded funds (ETFs) and institutional crypto investments.
- The Financial Services Commission plans to allow institutional digital asset investments by mid-2025 through a pilot program.
- Bridge Biotherapeutics’ stock rose over 20% following the acquisition announcement but remains down significantly year-to-date.
Parataxis Holdings’ investment in Bridge Biotherapeutics is part of a broader strategy to increase institutional access to Bitcoin in South Korea, despite current regulatory restrictions on institutional crypto investments. This move aligns with global trends where more companies are adopting Bitcoin treasury strategies.
With more than double the number of public companies holding Bitcoin compared to recent weeks, Parataxis’ initiative reflects growing corporate interest in cryptocurrency adoption globally (Source).
