Amdax Targets 1% of All Bitcoin With $23M Treasury Launch
Amdax, a Dutch cryptocurrency service provider, raised 20 million euros ($23.3 million) to establish a Bitcoin treasury company, AMBTS, on Amsterdam’s Euronext stock exchange. The company aims to accumulate at least 1% of all Bitcoin, approximately 210,000 BTC, valued over $23 billion. AMBTS plans to leverage capital markets to enhance its Bitcoin holdings and generate equity appreciation for shareholders. The trend of corporate Bitcoin treasuries is growing, with companies like Tesla, Aker, and MercadoLibre acquiring Bitcoin. This accumulation reduces the circulating supply of Bitcoin. Recently, Metaplanet approved a plan to raise $880 million for Bitcoin purchases, while Sequans Communications filed for a $200 million equity offering to support its Bitcoin strategy. Strategy, the largest Bitcoin treasury, holds 632,457 BTC, over 3% of all mined Bitcoin.
