South Korean Biotech Firm Secures $183M to Build Bitcoin Treasury — Eyes U.S. Listing

Bridge Biotherapeutics, a publicly traded biotech company based in Seongnam, South Korea, has taken an unexpected turn toward digital finance by securing ₩25 billion (approximately $183.3 million) in funding to initiate a Bitcoin treasury strategy. The investment comes from Parataxis Capital, a U.S.-based digital asset management firm known for its aggressive push into crypto-backed corporate finance. This development marks one of the first major moves by an Asian biotechnology firm to align itself with the growing trend of using Bitcoin as a reserve asset.

The company plans to rebrand as Parataxis Korea, continuing to trade on the Korean Securities Dealers Automated Quotations (KOSDAQ) market while strengthening its ties with the digital asset space. Parataxis, which is facilitating this shift, is also advancing its own strategic ambitions by planning a U.S. listing through a reverse merger with special-purpose acquisition company (SPAC) SilverBox Corp IV. The dual-pronged strategy—one part biotech, one part Bitcoin—positions the firm at the intersection of two rapidly evolving sectors: biomedical research and decentralized finance.

Bridge Biotherapeutics is not alone in embracing Bitcoin as a treasury asset. Its move follows a global trend set in motion by American software firm Strategy (formerly MicroStrategy), which now holds more than 1% of all Bitcoin in circulation, and Japan’s Metaplanet, which recently expanded its holdings to over 10,000 BTC (valued at more than $1 billion). These companies have treated Bitcoin not just as a store of value but as a core financial strategy, leveraging it to gain both long-term appreciation and market differentiation. According to Andrew Kim, a representative for Parataxis, the decision reflects a “broader institutional shift” toward embracing Bitcoin amid macroeconomic uncertainty and inflation concerns.

The market responded favorably to the news. Shares of Bridge Biotherapeutics surged 20.5% on KOSDAQ following the announcement, closing at 943 KRW (roughly $0.69 USD). This enthusiasm signals investor support for the company’s repositioning—especially as its U.S. SPAC listing would give international investors more direct exposure. The firm’s Bitcoin strategy will not replace its biotech focus entirely, but rather serve as a parallel pillar of growth as it expands into global capital markets.

The development comes at a time when South Korea’s crypto regulatory landscape is tightening, but not hostile. With increasing institutional support for blockchain initiatives and the government’s ongoing digital innovation efforts, firms like Bridge may find both the infrastructure and appetite needed to pursue hybrid strategies. If successful, this move could inspire a new wave of crypto-treasury adoption among public companies in Asia—especially those looking to diversify balance sheets without entirely pivoting from their core industries.