The world of traditional finance is witnessing a major shift as businesses begin to seriously consider Bitcoin as a strategic treasury asset. Recently, Parataxis Holdings – a professional digital asset investment platform – announced a merger with SilverBox Corp IV (SPAC), opening a new chapter in financial strategy with Bitcoin at the center.
The newly formed company after the merger will list publicly on the New York Stock Exchange (NYSE) under the stock symbol PRTX, and raise a total of $640 million to deploy a modern Bitcoin treasury model.
Deal details and financial strategy behind
According to the official announcement, the capital of 640 million USD was mobilized through two channels:
- $240 million from SPAC SilverBox Corp IV, of which $31 million was immediately disbursed to buy Bitcoin – ensuring the company owns BTC from day one of listing.
- $400 million through ELOC (Equity Line of Credit) – a flexible form of financing that allows the company to issue shares in stages, depending on market conditions.
The company's market cap will start at $400 million and could reach $800 million if the entire ELOC is deployed.
Parataxis’s biggest difference from traditional Bitcoin ETFs or passive funds is that it’s building a real business that operates on the digital asset platform. The model is reminiscent of the strategy pioneered by Michael Saylor with MicroStrategy (now Strategy) – but accelerated to market through the SPAC mechanism.
From Holding Strategy to Profitable Operation with Bitcoin
Parataxis's unique feature is that it not only holds BTC to preserve value, but also applies financial techniques and derivatives to generate cash flow from digital assets. This is a highly practical direction in the context that many businesses are looking to integrate digital assets into financial operations instead of just speculating.
In late June, Parataxis Holdings joined forces with Parataxis Korea Fund I LLC and Bridge Biotherapeutics to launch a Bitcoin treasury strategy in South Korea, one of Asia’s most vibrant crypto markets. This is the first step in a global expansion plan that reflects the company’s long-term ambition to reshape the way businesses view and use Bitcoin.
Bitcoin Treasury Trends: Race for Listed Companies
Since MicroStrategy made the first push to accumulate BTC as part of its treasury strategy, the following wave has been strong. According to statistics from BitcoinTreasuries.net, the total amount of BTC held by businesses has now exceeded $105 billion.
The move by listed companies to hold digital assets such as Bitcoin reflects a long-term loss of confidence in fiat currencies and the need to diversify reserves to cope with inflation, geopolitical instability and the trend of financial digitization.
Conclude
Parataxis Holdings’ $640 million fundraising to establish a Bitcoin treasury company listed on the NYSE is a clear demonstration of the transformation of global finance. Bitcoin is no longer just a speculative story. It is becoming a strategic asset class, a financial operation tool, and a symbol of modern management thinking in the global digital era.
