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Parataxis Plans $640M Bitcoin Treasury as Trump Backs BTC in US Retirement Plans
- Parataxis Holdings will go public and acquire South Korea’s Bridge Biotherapeutics, rebranding it as Parataxis Korea to establish a direct presence in the Korean market.
- The company plans to build a US$640 million Bitcoin treasury, positioning itself as a major institutional BTC holder targeting both US and Korean investors.
- Trump signed an executive order unlocking the US$9 trillion US retirement market to cryptocurrency and other alternative investments through 401 (k) plans.
- Over 90 million American savers will gain access to cryptocurrency investments via their retirement accounts, potentially providing significant momentum for crypto adoption.
Bitcoin’s adoption continues despite some calls from market insiders that the Bitcoin-as-a-treasury model has peaked.
Two recent examples seem to suggest otherwise: a South Korean firm has just followed Michael Saylor’s Strategy and Japan’s Metaplanet, by adding Bitcoin, and US President Donald Trump has signed an executive order which will make it easier to invest in BTC as part of a retirement plan.
Parataxis Holdings Goes Public
Parataxis Holdings, a New York–based institutional digital asset manager, will go public via a merger with SilverBox Corp IV (NASDAQ: SBXC). As part of its expansion, Parataxis will acquire South Korea’s Bridge Biotherapeutics (KOSDAQ: 288330) and rebrand it as Parataxis Korea, giving it a direct presence in the South Korean market.
The company plans to build a US$640 million (AU$981 million) Bitcoin treasury and position itself as a major institutional BTC holder, targeting both US and Korean investors.
Edward Chin, Founder and CEO of Parataxis Holdings, said that this would bring the company “closer to realizing our vision of creating a publicly listed entity that delivers differentiated exposure to Bitcoin”.
Looking ahead to its South Korean operations, Chin said:
We will also be ideally positioned to further establish and grow our successful foothold in South Korea with Parataxis Korea.
Edward Chin, Founder and CEO of Parataxis Holdings Related: Dormant Bitcoin Whale Moves $349M After a Decade of Silence
Trump Signs Landmark Order
Back to the United States, where Donald Trump just signed a historic executive order. The order will unlock the US$9 trillion (AU$13.79 trillion) US retirement market to crypto, as well as private equities and other “alternative” investments.
It is expected that over 90 million US savers will gain access to cryptocurrency investments via their 401(k) retirement plans. Though similar to superannuation in Australia, 401(k) is a voluntary, tax-advantaged retirement plan tied to an employer. On the other hand, Australian superannuation is a compulsory, employer-funded retirement savings system with optional extras.
Trump wrote in his order that “the vast majority of these investors do not have the opportunity to participate […] in the potential growth and diversification opportunities associated with alternative asset investments.”
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The move is expected to give crypto a push, though it does not necessarily mean that Americans should now pour their 401(k) funds into memecoins.
Related: Ethereum Treasury Firms Outshine US ETFs with Bigger Yields and Growing Market Share
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
