Dutch crypto service provider Amdax has raised €20 million ($23.3 million) to launch a Bitcoin treasury company on Amsterdam’s Euronext exchange.
The Friday announcement revealed that multiple investors have contributed to an initial funding round for Amdax’s Bitcoin treasury. Earlier this month, the company said it would establish the treasury as an independent, privately held entity with its own governance, named AMBTS.
AMBTS is designed to eventually acquire at least 1% of the total Bitcoin supply—roughly 210,000 BTC—currently valued at over $23 billion.
“AMBTS plans to use the capital markets to expand its Bitcoin holdings, aiming to grow equity value and increase Bitcoin per share for its shareholders, depending on market and other conditions,” the statement said.
The Growth of Corporate Bitcoin Treasuries
Since MicroStrategy (then known simply as Strategy) demonstrated the potential of corporate Bitcoin holdings, the practice of maintaining a Bitcoin treasury has steadily gained traction among publicly traded companies.
The trend has expanded beyond firms solely focused on Bitcoin accumulation. A diverse range of companies has started adding Bitcoin to their balance sheets, including U.S. electric vehicle maker Tesla, thermal and battery safety company KULR Technology, Norwegian industrial investment firm Aker, Brazilian fintech Méliuz, Latin American e-commerce leader MercadoLibre, Malta-based investment manager Samara, Thai telecom Jasmine, U.S. coal producer Alliance, and Canadian video platform Rumble.
Meanwhile, companies dedicated to Bitcoin acquisition continue to grow their holdings, effectively reducing the circulating supply of Bitcoin over time.
Corporate Bitcoin Accumulation Accelerates
This week, Japanese Bitcoin treasury Metaplanet approved a plan to raise approximately $880 million through an overseas share issuance, with nearly $835 million earmarked for Bitcoin purchases. Meanwhile, French semiconductor firm Sequans Communications filed on Monday for a $200 million at-the-market equity offering to support its Bitcoin treasury strategy.
Earlier this month, Michael Saylor, co-founder of Strategy—the world’s first Bitcoin treasury company—hinted at a third Bitcoin acquisition for the company in August. Strategy remains the largest corporate Bitcoin holder, with 632,457 BTC valued at over $69.5 billion, representing more than 3% of the total Bitcoin that will ever be mined.
