The post South Korea’s First Bitcoin Treasury Firm Emerges with $18.5M Acquisition Deal appeared first on Coinpedia Fintech News
The Bitcoin treasury strategy is booming. Public companies now hold over 777,000 BTC—worth nearly $80.6 billion—and South Korea is jumping in.
Parataxis Holdings has officially announced plans to create South Korea’s first publicly traded Bitcoin treasury company, signaling a bold shift in corporate crypto adoption across Asia.
Parataxis Acquires Bridge Bio to Launch BTC Treasury Arm
In a strategic move, Parataxis Holdings will acquire a controlling stake in biotech firm Bridge Bio for $18.5 million, according to the latest reports. After the acquisition, Bridge Bio will be renamed Parataxis Korea and will function as a Bitcoin-focused treasury company.
The company confirmed the plan via press release, marking a historic first for South Korea.
Inspired by MicroStrategy’s Bitcoin Playbook
Parataxis is following the path blazed by MicroStrategy, the most prominent public company holding Bitcoin. The firm, led by Michael Saylor, holds 592,100 BTC—valued at over $61.4 billion.
Parataxis partner Andrew Kim revealed that the move is inspired by success stories like MicroStrategy and Asia’s Metaplanet, which holds 10,000 BTC. Kim emphasized Bitcoin’s long-term potential for shareholders and national economic value.
Corporate Bitcoin Adoption Gains Steam in Korea
Despite South Korea’s strict crypto regulations—such as the ban on spot Bitcoin ETFs—momentum for corporate adoption is building:
- A 2025 pilot program allows 3,500 companies to open verified crypto accounts.
- Lawmakers are pushing for spot crypto ETFs and won-backed stablecoins by next year.
- Parataxis CEO Edward Chin said the Bitcoin strategy is designed to benefit both investors and the nation.
Top Public Companies Holding Bitcoin
Here are the top public companies by BTC holdings:
- MicroStrategy – 592,100 BTC (~$61.4B)
- Marathon Digital – 16,930 BTC
- Riot Platforms – 8,872 BTC
- Metaplanet (Japan) – 10,000 BTC
- Boyaa Interactive (Hong Kong) and DDC Enterprise (China) also hold significant Bitcoin reserves.
Why This Matters
As South Korea enters the corporate Bitcoin race, Parataxis Korea could become Asia’s next big BTC giant—potentially encouraging other firms across the region to follow suit.
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FAQs
Parataxis Holdings is acquiring biotech firm Bridge Bio for $18.5 million to rename it Parataxis Korea, establishing South Korea’s first publicly traded Bitcoin treasury company.
Leading public companies holding Bitcoin include MicroStrategy (592,100 BTC), Marathon Digital (16,930 BTC), Riot Platforms (8,872 BTC), and Japan’s Metaplanet (10,000 BTC).
South Korea has a complex crypto stance. While exchanges are legal and there’s growing public and political interest in crypto, strict regulations exist, including past bans on spot Bitcoin ETFs. However, recent developments show increasing corporate adoption and discussions around easing some rules.
South Korea plans to implement a 22% capital gains tax on crypto profits exceeding KRW 2.5 million (approx. $1,900) starting in 2025 (though it has been subject to delays). Income from mining or staking is taxed at individual income rates (6-45%).
