Key Highlights

• Seongnam-based Bridge Biotherapeutics has secured 25 billion won ($183.3 million) in investment from crypto investment firm Parataxis, aimed at establishing a Bitcoin treasury.
• The company will rebrand to Parataxis Korea and continue trading on the KOSDAQ stock market in South Korea.
• Parataxis is preparing to go public in the U.S. via a special purpose acquisition company (SPAC), SilverBox Corp IV.

Bridge Biotherapeutics (288330), headquartered in South Korea, plans a strategy similar to that of Strategy (MSTR) or Metaplanet (3350), incorporating a Bitcoin treasury approach. The partnership with Parataxis signifies increasing institutional interest in Bitcoin treasury strategies globally. The firm joins other healthcare-associated companies like Semler Scientific and Prenetics Global in pursuing this strategy.

“Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy in the U.S. and Metaplanet in Japan, we believe institutional interest in this space is increasing globally,” stated Andrew Kim, a partner at Parataxis.

These innovative financial moves have led to significant appreciation in the share prices of similar firms, establishing them as valuable assets for investors.