Parataxis Holdings, a digital asset management firm, is merging with SilverBox Corp IV, a special purpose acquisition company (SPAC), to form a publicly traded Bitcoin treasury company. The combined entity, which will trade under the ticker PRTX on the New York Stock Exchange, aims to raise up to $640 million to acquire Bitcoin for its corporate treasury reserves. This move reflects growing institutional interest in Bitcoin as a long-term reserve asset. Parataxis plans to deploy $31 million of the initial proceeds from the $240 million raised on the first day to purchase Bitcoin. The company has also launched a South Korean affiliate focused on Bitcoin, and the merger has led to a 1.68% increase in SilverBox shares following the announcement. The strategy mirrors similar approaches by other firms, such as MicroStrategy, in building substantial Bitcoin treasury holdings.