Bitcoin treasuries are gaining traction as a long-term reserve assets seek gain exposure to crypto across the globe, and Amsterdam-based crypto firm Amdax is looking to join the wave.
Summary
- Dutch crypto company Amdax announces plans to launch a Bitcoin treasury company.
- AMBTS aims to hold 1% of the total Bitcoin supply.
- Global corporate Bitcoin holdings have grown significantly in recent months.
Dutch cryptocurrency service provider Amdax has announced plans to launch a Bitcoin (BTC) treasury company with a stated set of lofty ambitions to control 1% of total BTC supply.
The firm, to be named Amsterdam Bitcoin Treasury Strategy (AMBTS), is being launched in response to Amdax’s recognition of Bitcoin’s growing global appeal as a treasury-worthy asset, according to an Aug. 18 Reuters report.
“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,” Amdax CEO Lucas Wensing reportedly said.
The company also plans for AMBTS to be listed on Euronext Amsterdam, one of Europe’s leading stock exchanges. To fund the initiative, Amdax will raise capital from private investors in an initial financing round to build its Bitcoin treasury.
AMBTS will set a target to hold at least 1% of the total Bitcoin supply, approximately 210,000 BTC. This echoes a similar strategy by the Japanese Bitcoin treasury company Metaplanet, which is also on a mission to acquire 1% of the total supply by 2027.
Upon launch, AMBTS will join the list of public companies betting long-term on Bitcoin’s potential. However, AMdax is not the only EU-based company making this move, as several others in the region have already established similar reserves.
Amdax joins list of Bitcoin Treasury companies in the EU
Bitcoin treasuries data by BitBo shows that 14 public firms across Europe have already launched various treasury strategies focused on BTC. The largest holder in the region is Germany-based Bitcoin Group SE, with more than 12,300 BTC in holdings.
Others are spread across the United Kingdom, France, Sweden, Italy, and Norway, including The Smarter Web Company, Fragbite Group, Advanced Bitcoin Technologies AG, The Blockchain Group, and more.
Collectively, these firms are estimated to hold 18,615.3 BTC of the total corporate BTC holdings, worth about $2.15 billion at Bitcoin’s current price of $115,372.
How much BTC is now held globally by public companies?
From the EU to North America and Asia, a total of 163 companies are estimated to own various Bitcoin treasuries, according to data compiled by crypto.news.
While a significant portion of these entities currently hold little to no BTC in reserve, roughly 81 companies hold 100 BTC or more. Combined, these firms hold 978,290 BTC, currently worth approximately $113.9 billion.
Michael Saylor’s Strategy remains the largest public Bitcoin holder, with 629,376 BTC in holdings, currently valued at about $72.4 billion.
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