Amdax, a cryptocurrency company based in the Netherlands, has raised €20 million ($23.3 million) to start a new Bitcoin-focused business. The new company, AMBTS, is being set up as a separate entity and aims to list on Amsterdam’s Euronext exchange.
AMBTS has one clear goal: to acquire around 210,000 Bitcoin, which is roughly 1% of the total supply that will ever exist. At current prices, this amount of Bitcoin is worth more than $23 billion. Amdax said the company will use public capital markets to grow its Bitcoin holdings and increase the value of its shares over time.
The idea of holding Bitcoin as part of a company’s assets has become more common over the past few years. AMBTS is the latest to follow this path. Amdax is separating this venture from its existing crypto services, building it solely to hold and increase Bitcoin reserves.
Using funds raised through stock offerings, companies like AMBTS aim to buy and hold Bitcoin long-term. This strategy mirrors what other large firms have already done.
Strategy Set the Model Many Now Follow
The move comes after U.S. firm Strategy, formerly MicroStrategy, started buying Bitcoin in 2020. It now owns more than 632,000 BTC, worth around $69.5 billion. That accounts for over 3% of all Bitcoin that will ever be mined.
Other large companies have taken similar steps. Tesla, MercadoLibre, and Japan’s Metaplanet have all added Bitcoin to their balance sheets. These companies are not traditional crypto firms, but they see value in holding Bitcoin as a core asset.
New Bitcoin Treasuries Are Emerging
More companies are entering this space. Metaplanet recently announced plans to raise $880 million to buy more Bitcoin. France’s Sequans Communications also filed for a $200 million stock offering to grow its Bitcoin position.
Strategy continues to expand its holdings as well. The company confirmed its third Bitcoin purchase this month. As more firms adopt this model, a larger share of Bitcoin moves into corporate storage.
Amdax is now part of this shift. It plans to build AMBTS into a major Bitcoin holder. But the company also noted that future results depend on many outside factors, saying AMBTS will grow “subject to market and other conditions.”
