- Bridge Bio’s conversion demonstrates Asia’s first public company adopting pure BTC treasury approach under evolving regulatory pilot programs.
- Korea’s pilot program for 3,500 crypto accounts and proposed spot ETFs signal widening institutional entry into digital assets.
Parataxis Holdings announced today that it will launch South Korea’s first publicly traded Bitcoin treasury company. The firm agreed to acquire a controlling stake in biotech outfit Bridge Bio for $18.5 million. After closing, Bridge Bio will become Parataxis Korea and dedicate its balance sheet to holding BTC.
This follows a blueprint first outlined by Strategy’s leadership under Michael Saylor. Strategy holds 592,100 BTC—worth about $61.4 billion—making it the largest corporate holder.
Parataxis partner Andrew Kim said the decision draws on Strategy success and Asia’s Metaplanet, which holds 10,000 BTC. He added that the long‑term potential of Bitcoin can benefit both shareholders and national economic strength.
Meanwhile, corporate Bitcoin adoption in Korea gains traction despite tight rules. A 2025 pilot program will let 3,500 companies open verified crypto accounts. At the same time, lawmakers are drafting spot‑ETF and won‑backed stablecoin proposals due next year. Therefore, firms like Parataxis may find a clearer path to deploy BTC on their books.
Globally, public companies now hold over 777,000 BTC—worth nearly $80.6 billion. Apart from Strategy, Marathon Digital controls 16,930 BTC, Riot Platforms holds 8,872 BTC, and Japan’s Metaplanet maintains its 10,000 BTC stake. Moreover, Hong Kong’s Boyaa Interactive and China’s DDC Enterprise also carry sizable reserves.
Bitcoin (BTC) is trading at $103,521, showing a modest +0.20% daily increase. Over the past week, BTC has corrected by -2.39%, and its monthly decline now stands at -5.58%. Year-to-date, the asset is still up by +10.96%, while its 1-year return remains a strong +59.74%.
Despite short-term volatility, Bitcoin is holding a significant lead as the dominant asset in the crypto space with a market capitalization of $2.06 trillion and a 24-hour trading volume exceeding $42 billion.
The most relevant and bullish update of the day is the Texas Bitcoin Reserve Bill, which is expected to become law by June 22 unless vetoed. If passed, Texas will create a strategic reserve of Bitcoin using state surplus funds, making it the first U.S. state to formally hold BTC on its balance sheet.
In terms of institutional flows, the past 30 days have seen $5.14 billion in net inflows into Bitcoin ETFs. This suggests that large financial entities continue to accumulate BTC aggressively despite recent price corrections.
ETHNews analysts also note that Bitcoin has recently decoupled from the global M2 money supply — a pattern observed only 20% of the time historically. While it could be temporary, it highlights BTC’s growing independence as a macro asset.
Meanwhile, the market remains cautious following recent liquidity sweeps near $108,500, which confirmed a short-term trend reversal and positioned BTC in a cooling phase. Current technical support lies around $102,800, and a breakdown below that could test the psychological $100,000 level. To reinitiate bullish momentum, BTC needs to reclaim and hold above $106,000–$108,000.
On-chain, the sentiment is stabilizing after a wave of short-term holder capitulation. The realized loss ratio has spiked, suggesting panic selling is nearing exhaustion — a signal often associated with local bottoms in Bitcoin market cycles.
