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Nakamoto Holdings and Korean Biotech Firms Secure Funding for Bitcoin Treasury Strategy

Nakamoto Holdings and Korean Biotech Firms Secure Funding for Bitcoin Treasury Strategy

Bitcoin's appeal as a treasury asset continues to grow, with Nakamoto Holdings securing an additional $51.5 million in funding. This capital injection, alongside a significant $183.3 million investment in South Korean biotech firm Bridge Biotherapeutics by Parataxis, underscores a global trend of companies adopting Bitcoin treasury strategies.

Bitcoin Treasury Trend Gains Momentum

Nakamoto Holdings, led by US President Donald Trump’s crypto adviser David Bailey, successfully raised $51.5 million through a private placement in public equity (PIPE) deal. This funding, secured in under 72 hours, highlights strong investor confidence in Nakamoto's strategy to accumulate Bitcoin. The proceeds will primarily be used for Bitcoin purchases, working capital, and general corporate needs. This financing round brings KindlyMD’s (Nakamoto’s merger partner) total funding to approximately $763 million, including convertible notes.

South Korean Biotech Embraces Bitcoin

South Korea's Bridge Biotherapeutics is set to become a significant player in the Bitcoin treasury space. The Seongnam-based biotech company received a 25 billion won ($183.3 million) investment from crypto investment firm Parataxis. Following this acquisition, Bridge Biotherapeutics will be renamed Parataxis Korea and will focus on building a substantial Bitcoin treasury. This move is inspired by the success of companies like MicroStrategy and Metaplanet, which have seen their share prices appreciate significantly after adopting Bitcoin treasury strategies.

  • Bridge Biotherapeutics' stock surged over 20% following the announcement.
  • Parataxis aims to support institutional access to Bitcoin while emphasizing sound corporate governance.
  • This development comes as South Korea gradually opens up to institutional digital asset investments, with a pilot program allowing corporations to open

Sources