Amdax | Crypto

Dutch crypto firm Amdax raised $23.3 million to launch AMBTS, a Bitcoin treasury company aiming to list on Amsterdam’s Euronext and accumulate 1% of all BTC. Dutch cryptocurrency service provider Amdax raised 20 million euros ($23.3 million) to launch a Bitcoin treasury company on Amsterdam’s Euronext stock exchange. According to a Friday announcement, multiple investors have committed about $23.3 million in an initial financing round for Amdax’s Bitcoin (BTC) treasury. This follows an announcement earlier this month that it would launch the treasury as an independent, privately held company with its own governance, AMBTS. AMBTS is being created to eventually accumulate at least 1% of all Bitcoin that will ever be created, or about 210,000 BTC. Such an amount of Bitcoin is currently worth over $23 billion. Read more

Amdax is launching a Bitcoin treasury company, aiming for a Euronext listing as more European companies join the growing corporate Bitcoin adoption wave. Dutch cryptocurrency service provider Amdax is preparing to launch a Bitcoin treasury company on Amsterdam’s Euronext stock exchange, as more European companies follow US counterparts in adopting Bitcoin strategies. Amdax said Monday it is creating AMBTS B.V., a privately held company with independent governance that will operate as a stand-alone firm. AMBTS aims to become a “1% Bitcoin treasury company,” with the goal of eventually accumulating 1% of all Bitcoin (BTC) in circulation. The company said it plans to raise capital in stages through the markets to expand its Bitcoin holdings, grow equity value and increase Bitcoin-per-share metrics for investors. Accumulating 1% of Bitcoin’s total supply would require more than $24 billion at current prices, with Bitcoin trading above $115,800 this week. Read more