## Parataxis Launches South Korea's First Institutional Bitcoin Treasury Company Through Bridge Biotherapeutics Acquisition

The global Bitcoin treasury movement just landed in South Korea. Parataxis Holdings has closed a definitive agreement to acquire controlling stake in KOSDAQ-listed biotech firm Bridge Biotherapeutics (288330) for KRW 25 billion ($18.3 million), transforming it into **Parataxis Korea**—the nation's inaugural institutionally-backed Bitcoin treasury company.

What makes this move significant isn't just the M&A transaction itself, but what it signals about institutional crypto adoption in Asia's financial hubs. The acquisition follows similar moves by Strategy in the United States and Metaplanet in Japan, suggesting a coordinated global shift toward corporate BTC accumulation strategies among established enterprises.

### The Strategic Transformation

Bridge Biotherapeutics, which has spent nearly a decade developing therapeutics for ulcerative colitis and oncology applications since its 2015 founding, will pivot into a hybrid model. The existing drug pipeline remains intact under co-founder James Jungkue Lee's stewardship, while a parallel Bitcoin treasury operation ramps up under new leadership.

Edward Chin, Parataxis Holdings' founder and CEO, will join the board post-transaction, while Andrew Kim from Parataxis Capital takes the CEO seat—positioning the company with dual expertise in both biotech operations and crypto asset management.

### Why South Korea Now?

Kim's statement captures the rationale perfectly: the country represents a crucial frontier for "institutional access to BTC exposure with sound corporate governance." South Korea already boasts sophisticated crypto infrastructure and forward-thinking regulatory frameworks compared to many other jurisdictions. The timing aligns with growing recognition among institutional players that Bitcoin's finite supply makes it an attractive store of value—a message Chin reinforced by noting the long-term shareholder benefits of building a BTC treasury within an "institutional-grade platform."

The shareholder vote is scheduled for August, with closing contingent on standard approvals. Shin & Kim LLC and Deloitte are handling legal and financial advisory duties.

This transaction underscores how institutional Bitcoin adoption has evolved from speculative interest to systematic corporate strategy, now extending across borders from Silicon Valley to Seoul.