Treasury, a Bitcoin-focused firm backed by Winklevoss Capital, plans Euronext Amsterdam listing via reverse merger, signaling growing trust in Bitcoin investments.
In a significant development, Treasury, a Bitcoin-focused investment firm, plans to list on Euronext Amsterdam through a reverse merger with Dutch investment firm MKB Nedsense. The news was first reported by Reuters, and it notes the support of Winklevoss Capital and Nakamoto Holdings.
Treasury is not like regular crypto companies. Instead of trading multiple digital coins, it concentrates exclusively on holding Bitcoin as its main asset. Traditionally, companies keep their cash reserves in dollars or euros. However, some Bitcoin treasury companies, such as Treasury, collect and store Bitcoin for long-term purposes.
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This year, Bitcoin’s price has risen to record highs of over USD1,24000. This is driven by renewed institutional investor interest and strong inflows into Bitcoin exchange-traded funds (ETFs). While there have been a number of crypto exchange-traded products (ETPs) in Europe, they have been slower to adopt than spot ETFs in the United States. Nevertheless, Treasury has already amassed a huge reserve, holding more than 1,000 Bitcoin. This move establishes the firm as a prominent player in the burgeoning Bitcoin investment landscape.
Strategic reverse merger with MKB Nedsense. Specifically, the deal represents a 72% premium over MKB Nedsense’s closing share price of 7 euro cents on July 11. Together, the companies target a post-consolidation share price of 2.10 euros. This listing will provide Treasury with access to public markets, which in turn will enable the Treasury to attract more investors. Furthermore, the move indicates confidence in the long-term value of Bitcoin among European markets.
This venture is being led by Cameron and Tyler Winklevoss through their firm, Winklevoss Capital. As the founders of the Gemini crypto exchange, they are popular Bitcoin believers. These efforts have contributed to the acceptance of cryptocurrency investing by institutional investors. For example, their work has created the opportunity that companies like Treasury have thrive. As such, Treasury’s listing might encourage other Bitcoin-oriented companies to do the same.
Interestingly, Treasury is not alone in seeking this strategy; several Dutch companies are also pursuing it. In August, another Dutch crypto company, Amdax, said that it would list AMBTS, a Bitcoin treasury company, on Euronext Amsterdam. This trend indicates that the Netherlands is emerging as a hub for investment firms specializing in Bitcoin. Additionally, the country’s explicit regulatory framework as part of the EU’s Markets in Crypto-Assets (MiCA) regulation provides an attractive landing place for such endeavors.
In conclusion, the Treasury’s listing on Euronext Amsterdam is a courageous move for Bitcoin treasury companies. With major influencers like the Winklevoss twins in its corner, the company is in a strong position to take advantage of Bitcoin’s growing popularity. Additionally, the reverse merger is indicative of increasing confidence in cryptocurrency as a valid asset class. As more companies like Treasury and AMBTS start coming forward, the Netherlands might take a leading role in the crypto investment ecosystem of Europe. Overall, this move signifies the growing integration of Bitcoin into traditional financial markets.
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