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Dutch cryptocurrency service provider Amdax has announced that it raised over $23 million to establish a Bitcoin treasury company.

The new entity, called AMBTS, will be listed on Amsterdam’s Euronext stock exchange. According to reports, investors from the initial funding round have already committed the full $23.3 million.

Targeting A Massive Share Of Bitcoin

AMBTS has a goal that stands out in its ambition: to eventually acquire 210,000 BTC, or about 1% of the total Bitcoin supply that will ever exist.

At today’s prices, that amount is worth more than $23 billion. The company says it wants to build value for its shareholders by expanding its Bitcoin holdings and increasing crypto per share, depending on market conditions.

The move reflects a growing wave of companies taking the treasury approach with Bitcoin. This strategy, popularized in 2020 by Michael Saylor’s Strategy, has steadily gained ground among public companies and private firms alike.

While some corporations simply add BTC to their balance sheets, others have been set up entirely to accumulate the digital asset.

Companies Building Bitcoin TreasuriesGo to Source to See Full Article
Author: Christian Encila

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