Bridge Biotherapeutics (288330), a Biotech company of South Korea, may be looking to be the country’s answer to the Strategy (MSTR) or Metaplanet (3350) by adopting a Treasury approach to Bitcoin.
The Seongnam-based bridge received a 25 billion winner ($ 183.3 million) backing from the crypto investment firm Parataxis, where it will build a BTC treasury.
Bridge will change its corporate name at Parataxis Korea and continue trading at the South Korea Stock Market Kosdaq, According to an announcement on Friday.
“With the growing interest in BTC treasury techniques seen in companies such as US and Metaplanet approach to Japan, we believe that the institutional interest in this space is rising around the world,” said Parataxis partner Andrew Kim.
More and more Companies copy the approach playbookthat owns more than 2.8% of all bitcoins who have ever existed. The hotel operator listed in Tokyo turned Bitcoin investor Metaplanet holds 10,000 BTC ($ 1.04 billion), making it the largest handling of a public company outside North America.
Witnessed by these firms dramatic appreciation for their sharing price as cash traders to them as a bitcoin-proxy asset.
Bridge joins fellow health care companies Semler scientific (Smlr) and Prenetics global (Pre) In adopting Bitcoin’s treasury approach.
Parataxis is currently preparing Go public in the US With a special goal of obtaining goal (spac), Silverbox Corp IV (SBXD).
Bridge sharing closed over 20.5% higher on Friday at 943 winners ($ 0.69).
