Dutch Crypto Company to launch Bitcoin Treasury on Amsterdam Euronext

Amdax, a Dutch cryptocurrency services provider, is planning to establish a Bitcoin Treasury company at Amsterdam’s Euronext Stock Exchange. This comes as European firms follow their US counterparts and adopt Bitcoin strategies.

Amdax said AMBTS B.V. will be a private company that has independent governance and operates as an independent firm. AMBTS is aiming to become an independent firm. “1% Bitcoin treasury company,” The goal is to eventually accumulate 1% of Bitcoin.BTCThe circulating.

According to the company, it will raise capital through markets in phases to increase its Bitcoin holdings and equity values for investors. At current prices, Bitcoin is trading at over $115,800, so it would take more than 24 billion dollars to accumulate 1% of the total Bitcoin supply.

Amdax, the Dutch central bank’s first cryptocurrency service provider in 2020, was registered as the Dutch Central Bank. Amdax was one of the first Dutch cryptocurrency service providers. receive AFM, the Dutch Authority for the Financial Markets granted a Markets in Crypto-Assets Regulations (MiCA), license on the 26th of June.

Amdax and AMBTS intend to secure capital in a first financing round from private investors, the proceeds of which will be spent on a variety of projects. “make a head start with the Bitcoin accumulation strategy,” It was announced that.

Amdax’s platform, it said, offers users 33 crypto currencies for trading and automated investments as well as expertly managed portfolio strategies.

Cointelegraph had contacted Amdax to ask for comment about the timing of its upcoming capital raising and the future Bitcoin investment, but received no response before publication.

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Bitcoin adoption by corporates increases in Europe

Bitcoin has become a popular treasury asset among European companies. Bitcoin exposure remains low. “relatively small in investment portfolios,” Lucas Wensing is the CEO of Amdax. He said:

“With now over 10% of bitcoin supply held by corporations, governments and institutions, we think the time is right to establish a Bitcoin treasury company with the aim to obtain a listing on Euronext Amsterdam, as one of the leading exchanges in Europe.”

As many as 15 European firms have announced publicly that they are adopting Bitcoin into their balance sheets. The list includes the Germany-based Bitcoin Group, which has 3,605 BTC; Smarter Web Company, based in the United Kingdom, with 2,395 BTC; and France-based The Blockchain Group Satsuma Technology in the UK has 1,126 BTC.

The following companies are also in Europe with less than 1000 BTC: Sweden’s H100 Group; Samara Asset Group; 3U Holdings, Advanced Bitcoin Technologies; Phoenix Digital Assets. Baultz Capital. Vanadi Coffee. Aker, ASA. K33. Refined Group.

Bitcoin is outperforming all of its competitors

Related: Bitcoin’s corporate boom raises ‘Fort Knox’ nationalization concerns

Bitcoin has outpaced all major asset classes over the past decade, increasing more than 26,900%, compared with gains of 193% for the S&P 500, 125% for gold and 4.3% for crude oil, according CoinGecko.

Metaplanet is a Japanese investment firm that has been leading corporate Bitcoin adoption in Asia.

Metaplanet announced that it had acquired 775 BTC, worth $89 millions, to reach 18,888 BTC, or $2.1 billion, in total. Monday.

Metaplanet stock has surged almost Cointelegraph on Wednesday reported that the Tokyo Stock Price Index Core 30 index has seen a 190% increase in the past year, outperforming Japan’s most liquid and leading blue-chip companies which have grown 7.2%. 

Google Finance Data is not optimistic despite an earnings report that was released last weekend. shows Metaplanet stock fell over 12.7% in the last five days to trade at about 900 Japanese yen or $6.11 a share.

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