What to know:
- In the bustling city of Seongnam, Bridge Biotherapeutics has secured a staggering 25 billion won ($183.3 million) from the crypto wizards at Parataxis, all to construct a shiny new BTC treasury.
- In a bold move, Bridge will don a new nameāParataxis Koreaāand continue its dance on the KOSDAQ stage, much to the delight of its shareholders.
- Meanwhile, Parataxis is polishing its shoes for a grand entrance into the U.S. public markets, courtesy of a special purpose acquisition company, SilverBox Corp IV. Fancy, right?
Ah, Bridge Biotherapeutics (288330), a name that may soon echo through the halls of financial fame, as it aspires to be South Korea’s answer to the likes of Strategy (MSTR) or Metaplanet (3350) with its audacious bitcoin treasury strategy. Who knew biotech could be so… trendy?
With the generous backing of 25 billion won ($183.3 million) from Parataxis, Bridge is set to embark on this crypto adventure, building a BTC treasury that could make even the most stoic investor crack a smile.
In a recent proclamation, the company announced its transformation into Parataxis Korea, continuing its trading escapades on the KOSDAQ. Because why not change your name when you’re about to make waves?
āInspired 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,ā mused Parataxis partner Andrew Kim, likely while sipping a fine cup of coffee.
As the world watches, more companies are mimicking the playbook of Strategy, which holds a jaw-dropping 2.8% of all the bitcoin that will ever exist. Meanwhile, Metaplanet, a hotel operator turned bitcoin aficionado, boasts a staggering 10,000 BTC ($1.04 billion), making it the largest public company holder outside North America. Talk about a glow-up!
These firms have seen their share prices soar as traders flock to them like moths to a flame, treating them as bitcoin-proxy assets. Who knew finance could be so dramatic?
Bridge now joins the ranks of healthcare-adjacent companies like Semler Scientific (SMLR) and Prenetics Global (PRE) in this bitcoin treasury strategy. Itās like a club, but with more spreadsheets and less fun.
As Parataxis prepares for its U.S. debut via the SPAC SilverBox Corp IV (SBXD), the excitement is palpable. Will they be the next big thing, or just another blip on the radar? Only time will tell!
On a high note, Bridge shares closed over 20.5% higher on Friday at 943 won ($0.69). Cheers to that!
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2025-06-20 19:06