Dutch cryptocurrency service provider Amdax is preparing to launch a Bitcoin (BTC) treasury company on the Amsterdam Euronext, as more European companies follow the lead of their American counterparts in adopting Bitcoin strategies.
Amdax announced on Monday that it is creating AMBTS B.V., a privately held company with an independent governance structure that will operate as an independent entity. AMBTS aims to become a "1% Bitcoin treasury company," with the goal of ultimately accumulating 1% of all Bitcoin in circulation.
The company stated that it plans to raise funds in phases through the market to expand its Bitcoin holdings, increase equity value, and enhance the per-share Bitcoin metrics for investors. At current prices, accumulating 1% of the total Bitcoin supply would require over $24 billion, with Bitcoin trading above $115,800 this week.
Amdax was the first cryptocurrency service provider registered with the Dutch central bank in 2020. The platform was one of the first to obtain a crypto asset market regulation (MiCA) license from the Dutch Authority for the Financial Markets (AFM) on June 26.
Amdax and AMBTS plan to raise funds from private investors in the first round of financing, with net proceeds expected to be used to "gain a competitive edge in Bitcoin accumulation strategies."
Amdax stated that its platform offers users trading in 33 cryptocurrencies, automated investing, and expert-managed portfolio strategies.
Cointelegraph reached out to Amdax for comments on the company's upcoming capital raising timeline and future Bitcoin investments, but had not received a response by the time of publication.
More European companies are adopting Bitcoin as a primary treasury reserve asset. However, according to Amdax CEO Lucas Wensing, Bitcoin exposure in portfolios remains "relatively small." He added:
At least 15 European companies have publicly announced the adoption of Bitcoin as part of their corporate balance sheets. These include Germany's Bitcoin Group, which holds 3,605 BTC, the UK's Smarter Web Company with 2,395 BTC, France's The Blockchain Group with 1,653 BTC, and the UK's Satsuma Technology with 1,126 BTC.
Other European companies holding fewer than 1,000 BTC include Sweden's H100 Group, Samara Asset Group, CoinShares International Limited, 3U Holding, Advanced Bitcoin Technologies, Phoenix Digital Assets, Baultz Capital, Vanadi Coffee, Aker ASA, K33, and Refined Group.
According to CoinGecko data, Bitcoin has outperformed all major asset classes over the past decade, rising over 26,900%, compared to a 193% increase in the S&P 500, 125% in gold, and 4.3% in crude oil.
In addition to Europe and the U.S., corporate Bitcoin adoption is also steadily growing in Asia, led by the Japanese investment company Metaplanet.
Metaplanet announced on Monday that it has acquired an additional 775 BTC worth over $89 million, bringing its total holdings to over 18,888 BTC (approximately $2.1 billion).
Cointelegraph reported last Wednesday that Metaplanet's stock price has surged nearly 190% year-to-date, outperforming the 7.2% increase of Japan's leading and most liquid blue-chip companies tracked by the Tokyo Stock Price Index (TOPIX) Core 30.
Despite the optimistic earnings report released last week, Google Finance data shows that Metaplanet's stock price has fallen over 12.7% in the past five trading days, trading at 900 yen, or $6.11 per share.
Related: Analyst: The next Bitcoin (BTC) buy signal may come from bond market pressure
Original: “Dutch company Amdax plans to launch Bitcoin (BTC) treasury company and list on Amsterdam Euronext”
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