Key Takeaways
- Parataxis Holdings is set to list on the NYSE via a SPAC merger with SilverBox Corp IV.
- The deal is Parataxis’ second major acquisition aimed at building bitcoin treasury strategies based on public markets.
- Previously, the company bought a 25 billion won stake in the South Korean biotech company, Bridge Biotherapeutics.
Parataxis Holdings is to go public via a merger with SilverBox Corp IV, a special purpose acquisition company (SPAC) listed on the New York Stock Exchange (NYSE).
The merger could raise up to $640 million, including $240 million upfront with an additional $400 million available through a line of credit. Parataxis will use $31 million of the initial funds to buy Bitcoin straight away.
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Parataxis Expands Into Bitcoin Treasuries
Parataxis Capital was founded in 2019 as a multi‑strategy investment advisory firm focused on digital assets. It serves institutional allocators, family offices, registered investment advisors, and high‑net‑worth individuals.
In 2025, the company’s leadership formed Parataxis Holdings, a separately incorporated affiliate focused on Bitcoin treasury strategies.
Parataxis Holdings’ first acquisition was a 25 billion won ($18 million) stake in the South Korean biotech company, Bridge Biotherapeutics, earlier this year.
The latest SPAC deal with Silverbox Capital will see the company gain a foothold on the largest and most systematically important stock exchange in the world.
Other Bitcoin treasury companies listed on the NYSE include GameStop, DDC Enterprise Limited, and KULR Technology Group.
At $10 per share, the deal values the combined company at $400 million, or $800 million if the full line of credit is extended at the same equity price.
Hitting the Ground Running
Parataxis Holdings is wasting no time deploying its capital.
Of the $240 million expected upfront from the SPAC transaction, the firm plans to allocate $31 million immediately toward purchasing Bitcoin.
Chairman and CEO Edward Chin said the deal “brings us closer to realizing our vision of creating a publicly listed entity that delivers differentiated exposure to Bitcoin via a disciplined, institutional platform investing across underserved growth markets.”
Once the deal closes, “we will be well-capitalized to execute a BTC treasury strategy in the U.S., enhanced by the yield generation capabilities of an institutional asset manager,” he added.
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James Morales is CCN’s blockchain and crypto policy reporter. He has been working in the news media since 2020, writing about topics such as payments, banking and financial technology. These days, he likes to explore the latest blockchain innovations and the evolving landscape of global crypto regulation.
With an educational background in social anthropology and media studies, James uses his platform as a journalist to explore how new technologies work, why they matter and how they might shape our future.
