Parataxis Acquires Bridge Bio in $18M Deal to Launch Bitcoin Treasury on KOSDAQ
Parataxis Holdings is making a high-profile move to bring Wall Street's Bitcoin treasury playbook to Asia. The U.S.-based firm has agreed to acquire a controlling stake in South Korea’s Bridge Biotherapeutics for 25 billion KRW (roughly $18 million), aiming to turn the biotech firm into the country’s first publicly listed Bitcoin-native treasury company.
Parataxis Holdings LLC
The transaction, announced on June 20 and pending shareholder approval, will see the newly rebranded Parataxis Korea listed on the KOSDAQ exchange. The firm’s goal: to pair institutional-grade Bitcoin management with its existing biotech business in a hybrid structure.
Edward Chin, founder of Parataxis, and Andrew Kim, a partner at affiliate Parataxis Capital, will join the board. Kim will also take on the role of CEO. James Jungkue Lee, co-founder of Bridge Bio, will continue leading the biotech division.
This isn’t a lone bet. Parataxis joins a growing list of companies looking to hold Bitcoin as a strategic reserve asset. It follows in the footsteps of Japan’s Metaplanet, which holds 10,000 BTC, and U.S.-based Strategy, now sitting on a 582,000 BTC war chest.
The company’s leadership believes Bitcoin’s long-term value and scarcity make it a compelling store of value—especially as macroeconomic uncertainty lingers.
“We’re excited to create the first BTC treasury company in South Korea backed by an institutional-grade platform,” said Chin. “We believe building and growing a company like Parataxis Korea and accumulating a BTC treasury will benefit our shareholders and the country over the long run.”
Standard Chartered reports that more than 60 public companies—outside the crypto sector—have adopted Bitcoin treasury strategies in recent months. That figure has doubled since April, underscoring how fast institutional adoption is accelerating.
A Hybrid Model: Biotech + Bitcoin
Rather than pivot entirely into digital assets, Parataxis Korea plans to maintain its biotech roots. The dual structure is designed to provide operational continuity while building a robust BTC-centered treasury model. According to the firm, this setup ensures transparency, governance discipline, and flexibility—three things critical in managing Bitcoin at the corporate level.
That said, the strategy comes with trade-offs. Analysts at Charles Schwab caution that overexposure to Bitcoin could introduce liquidity risks. If BTC prices fall sharply, companies might struggle to meet short-term obligations. Standard Chartered estimates that a price dip below $90,000 could wipe out half of the value across corporate BTC reserves globally.