The post Dutch Crypto Firm Amdax Raises โฌ30 Million to Launch Bitcoin Treasury AMBTS appeared first on Coinpedia Fintech News
Companies across the globe are increasingly exploring Bitcoin as part of their corporate strategies. This shows how cryptocurrency is becoming a regular part of business, and a Dutch company has recently joined this trend.
Read on to see how Amdax is making its move in Bitcoin.
All About AMBTS
According to Reuters, Dutch cryptocurrency firm Amdax has raised 30 million euros ($35 million) to launch a new Bitcoin treasury company called AMBTS (Amsterdam Bitcoin Treasury Strategy), on the Dutch stock exchange.
The launch comes at a time when Bitcoin has recently reached record highs, surpassing the $125,000 mark and drawing attention from investors worldwide.
Lucas Wensing, CEO of Amdax and co-founder of AMBTS called the closing of this round an important milestone in their journey. โWe now move forward with our bitcoin strategy aiming to offer investors transparent access to this unique asset class,โ he added.
Amdax plans to use capital markets to grow its Bitcoin holdings, aiming to increase value for investors and boost Bitcoin per share. As the main force behind AMBTS, Amdax brings over five years of experience as a fully licensed digital asset provider, giving credibility to the venture.
AMBTS, based in Amsterdam, is a Bitcoin treasury designed to make Bitcoin a central part of Europeโs financial system. It aims to give investors a safe, regulated way to access Bitcoin.
Amdax Aims to Hold 1% of All Bitcoin
Earlier in August, Amdax had revealed plans to launch a Bitcoin treasury company, on the Dutch stock exchange. Lucas had said that the timing was right with over 10% of Bitcoin held by corporations, governments, and institutions.
The company aims to list on Euronext Amsterdam and its long term goal is to acquire at least 1% of the total Bitcoin supply. This mirrors the approach of Japanese Bitcoin treasury firm Metaplanet, which aims to hold 1% of all Bitcoin by 2027, which would be approximately 210,000 BTC.
Amdax is not the only company in the region making this move; the Winklevoss twins backed Bitcoin treasury firm โTreasuryโ is also building a Bitcoin treasury and already holds over 1,000 BTC.
Institutional Bitcoin Holdings on the Rise
According to data from Bitcointreasuries.net, approximately 3.88 million BTC are held in treasuries by different institutional players. The largest share is held by ETFs and other funds, followed by public companies. Governments also hold a notable portion, while private companies, DeFi or smart contracts, and exchanges or custodians make up smaller shares.
Bitcoin is no longer a niche asset, thatโs certain. Companies like Amdax are leading the way in bringing it into the mainstream.