Cryptocurrency Information Bureau News: South Korea's first Bitcoin finance company is born! Check out the latest developments at Parataxis Holdings! #Bitcoin #South Korea #Cryptocurrency
Video explanation
The first company to land in Korea! The birth of a company that uses Bitcoin as its "treasure"!
Hello, I'm John, a blockchain navigator! Today, I'll be bringing you the latest news about Bitcoin and blockchain (a new technology that securely records and shares information!) happening around the world in an easy-to-understand way. This time, I've got some big news from our neighboring country, South Korea! Don't worry if you're thinking, "Huh, Bitcoin seems complicated..." Relax, and let's take a look together!
A big transformation! A Korean company becomes a Bitcoin specialist?!
The main character in this story is a professional investment company called "Parataxis Holdings LLC" in the United States. This company has acquired (bought the management rights of) "Bridge Biotherapeutics, Inc.", a Korean biotechnology company that originally made medicines, for a whopping 250 billion won (about 26 billion yen in Japanese yen! That's a huge amount!).
And here's the interesting part! With this acquisition, Bridge Biotherapeutics will be rebranded as "Parataxis Korea" and will start as the first "Bitcoin finance company" in Korea. It's amazing that a bio company will transform into a Bitcoin company!
What exactly does a "Bitcoin finance company" do?
The word "finance" sounds a bit formal, doesn't it? Simply put, it means "how to hold and manage the company's money and valuable assets (property)."
A normal company has assets in the form of cash such as Japanese yen or US dollars, bank deposits, stocks, real estate, etc. So what is a "Bitcoin Finance Company"? It is a company that has "Bitcoin" in addition to these assets, or as the core of its assets.
Bitcoin is a digital currency (a type of money) that can be used on the Internet, and you've probably heard about it a lot in the news recently. The idea is to have it as the company's "official savings." For example, imagine a company has a large safe. In that safe, where they previously kept cash and gold bars, they will now also store a new digital treasure called "Bitcoin." It sounds a bit futuristic, doesn't it?
Why is the company using Bitcoin? What is its purpose?
You may be wondering, "But why would you bother to hold assets in Bitcoin?" There are several possible reasons.
- Hopes for the future: It's the expectation that the value of Bitcoin may increase in the future. If the value increases, the company's assets will also increase, so they consider it a kind of investment (putting money in anticipation of future profits).
- Adapting to new technologies: It is said that Bitcoin and the blockchain technology that underpins it may change society in the future. Perhaps the company is aiming to ride this new wave early and demonstrate its status as a cutting-edge company.
- Diversifying your assets: As the saying goes, "Don't put all your eggs in one basket," one idea is to diversify risk (reduce danger) by holding various types of assets rather than relying on only one. Bitcoin is one such option.
Based on this idea, Parataxis Korea will utilize Bitcoin as an important asset of the company.
A first in Korea! Why this news is big
What is particularly noteworthy about this news is that it is "the first Bitcoin finance company in South Korea" and that it is "fully backed by institutional investors (professional investors who invest professionally as large organizations)."
Until now, the image of Bitcoin has been that it is mainly for individual investors. However, the fact that a professional investment company is investing a large amount of money to create a specialized company like this is proof that the social assessment of Bitcoin is changing from "some enthusiasts" to "a legitimate asset that companies are also paying attention to."
South Korea in particular is a country with a high level of interest in new technologies. The fact that such a movement has emerged in South Korea may have an impact on other Asian countries, and of course Japan. The day when it becomes commonplace for companies to hold Bitcoin may not be so far away...
The future of the new company
Following the acquisition, Bridge Biotherapeutics will change its name to Parataxis Korea and get off to a new start.
And it seems that shares will continue to be traded on KOSDAQ (one of South Korea's stock markets, which is a market that attracts many new, growing companies. It is similar to Japan's Tokyo Stock Exchange Growth Market, or the former Mothers Market), where the company is still listed.
In other words, the company will be making a major shift in focus from its previous research and development in biotechnology to the management and operation of digital assets such as Bitcoin. I'm excited to see what kind of company it will become!
A word from John
It seems that we are just around the corner when Bitcoin will be part of the "wallets" and "safes" of companies! Things that were unthinkable in the past are quickly becoming reality. John is excited to see how this new venture in Korea will develop! Why not take this opportunity to take a peek into the world of Bitcoin?
This article is based on the following original articles and is summarized from the author's perspective:
Parataxis Holdings to Create South Korea's First Bitcoin
Treasury Company