Amdax is a Dutch cryptocurrency company that raised 23.3 million dollars to create a Bitcoin Treasury Company on Amsterdam’s Euronext exchange.
The Friday announcementAmdax Bitcoin was funded by multiple investors for a total of about $23.3 Million.BTC) treasury. It follows an announcement earlier this month that it would launch the treasury AMBTS is a privately owned, independent company that has its own management.
AMBTS will eventually collect at least 1% (or about 210.000 BTC) of the total Bitcoins that are ever created. A Bitcoin worth this much is now valued at over $23 Billion.
“AMBTS intends to leverage the capital markets to increase its Bitcoin holdings and sequentially generate equity appreciation and grow Bitcoin per share for its shareholders, subject to market and other conditions,” The announcement stated.
Related: The Bitcoin treasury model is breaking, but Strategy’s isn’t. Here’s why
Bitcoin treasuries are becoming increasingly popular among corporates
Ever since Strategy — then still MicroStrategy — demonstrated the viability of this approach, the Bitcoin treasury tactic The trend of public companies listing their shares on the stock exchange is gaining momentum.
This has also led multiple companies to not focus solely on Bitcoin acquisition starting to acquire it. Such firms include US electric vehicle manufacturer Tesla, US thermal and battery safety firm KULR Technology, Norwegian industrial investment firm Aker, Brazilian fintech Méliuz, Latin America’s leading e-commerce MercadoLibre, Malta-based investment manager Samara, Thai telecom Jasmine, US coal producer Alliance and Canadian video-sharing platform Rumble.
Companies that have concentrated on Bitcoin acquisitions, however, continue to acquire more. The amount of Bitcoins in circulation is also reduced.
Related: Satsuma secures $218M, including $125M in BTC, to advance Bitcoin strategy
Bitcoin’s accumulation is continuing
In the past week, Japanese Bitcoin Treasury Metaplanet approved a plan to raise about $880 million Through an overseas stock issuance, almost $835 million was set aside for Bitcoin purchases. French semiconductor company Sequans Communications also announced a share issuance this week. filed for a $200 million at-the-market equity offering The company announced its Bitcoin Treasury strategy on Monday.
Michael Saylor co-founded the first Bitcoin Treasuries in the World, Strategy. signaled an impending Bitcoin acquisition This would be the third in August for this company. At the time this article was written, Strategy held 632,457 BTC valued at over $69.5 Billion, or over 3% the total Bitcoins ever mined.
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Source: cointelegraph.com
