- Amdax raises €20 million to launch a Bitcoin treasury company on Amsterdam’s Euronext exchange.
- AMBTS aims to acquire 1% of all Bitcoin ever created, targeting around 210,000 BTC.
- Amdax’s Bitcoin treasury will be governed independently and operate as a privately held entity.
- Corporate adoption of Bitcoin treasuries continues to rise, with multiple companies expanding holdings.
Dutch crypto service provider Amdax has successfully raised 20 million euros ($23.3 million) to establish a Bitcoin treasury company. The funding will support the launch of AMBTS, a new venture that aims to acquire at least 1% of all Bitcoin ever created.
This ambitious initiative was announced on Friday, with investors contributing to an initial financing round for Amdax’s Bitcoin treasury. The company plans to list AMBTS on Amsterdam’s Euronext stock exchange.
AMBTS’s Ambitious Bitcoin Acquisition Goals
AMBTS aims to accumulate a significant portion of Bitcoin over time, with a target of around 210,000 BTC, which would represent 1% of the total Bitcoin supply. The current value of this target amount exceeds $23 billion. To achieve this goal, the company plans to use capital markets to fund further Bitcoin acquisitions. The strategy will focus on increasing the amount of Bitcoin it holds and generating equity appreciation for its shareholders.
The company’s efforts will be managed by an independent governance structure, as AMBTS is designed to operate as a privately held entity. This approach allows the company to focus on its Bitcoin accumulation strategy while managing market conditions and other factors.
Corporate Adoption of Bitcoin Treasuries Expands
Amdax’s move aligns with a broader trend among companies adopting Bitcoin as a treasury asset. The strategy gained significant attention when MicroStrategy, now Strategy, demonstrated the effectiveness of holding Bitcoin as a corporate asset. This trend has since spread to a variety of companies in diverse sectors.
Notably, Tesla, a U.S.-based electric vehicle manufacturer, and KULR Technology, a U.S. thermal and battery safety firm, have also embraced Bitcoin treasuries. Other companies like Norwegian investment firm Aker, Brazilian fintech Méliuz, and e-commerce giant MercadoLibre have followed suit. This expanding interest in Bitcoin treasury strategies has led to a reduction in the circulating supply of Bitcoin.
Other Companies Move to Expand Bitcoin Holdings
As more companies explore Bitcoin as a treasury asset, several are increasing their Bitcoin holdings. For example, Metaplanet, a Japanese Bitcoin treasury, recently approved plans to raise around $880 million, with a large portion allocated for Bitcoin purchases.
Similarly, Sequans Communications, a French semiconductor company, filed for a $200 million equity offering to fund its Bitcoin treasury strategy.
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