Definitive Acquisition Agreement

The firm revealed on June 15th it has entered into a definitive agreement to invest 25 billion South Korean won ($18.5 million) into Bridge Biotherapeutics.

Following this investment, Parataxis Holdings anticipates securing a controlling stake in the renamed Parataxis Korea, which will function as a treasury vehicle dedicated to facilitating institutional Bitcoin (BTC) exposure.

Institutional Strategy and Market Focus

Andrew Kim, Partner at Parataxis Capital, stated: “Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy (US) and Metaplanet (Japan), we believe institutional interest in this space is increasing globally. We see South Korea as an important market in the evolution of BTC adoption.”

The firm aims to support institutional access to Bitcoin while emphasizing sound corporate governance and disciplined capital management.

South Korea’s Crypto Landscape

Currently, Bitcoin ETFs and institutional crypto investments are strictly prohibited in South Korea. Despite this regulatory stance, the Financial Services Commission (FSC) has initiated a pilot program allowing 3,500 corporations and professional investors to open “real-name” accounts from the first half of 2025, paving the way for gradual institutional digital asset investments.

Image: FSC’s crypto roadmap for 2025. Source: Financial Services Commission

Corporate Bitcoin Adoption Increases

Parataxis’s move occurs within a broader trend of corporate Bitcoin adoption. According to data from BitcoinTreasuries.NET, the number of public companies holding Bitcoin on their balance sheets has surged to over 237, up significantly from 124 firms weeks earlier.

These holdings represent approximately 3.96% of the total Bitcoin supply.

Image: Companies holding Bitcoin on their balance sheets. Source: BitcoinTreasuries.NET

Recent Stock Performance

Bridge Biotherapeutics’s stock price saw significant gains following the acquisition announcement, rising over 20% on a daily chart basis according to TradingView data.

However, Bridge Biotherapeutics’s stock remains down 74% year-to-date and more than 90% from its five-year high.

Image: Bridge Biotherapeutics stock price, June 18, 2025. Source: TradingView

Other corporate announcements related to Bitcoin have also impacted stock prices:

• Pri0r1ty Intelligence Group, a London-based AI firm, announced plans to adopt Bitcoin as a reserve asset and payment solution, leading its stock price to rise over 84% on the day.

Strategic Context

This initiative follows Parataxis Capital Management’s earlier announcement of plans to go public through a $200 million special acquisition company.