Amdax Secures Funding for Bitcoin Treasury Venture
Amdax, a cryptocurrency company based in the Netherlands, has successfully secured 30 million euros (approximately $35 million) for its ambitious Bitcoin treasury venture, known as AMBTS. The firm’s goal is to acquire a substantial portion of Bitcoin, planning to hold at least 210,000 BTC, which would account for around 1% of the global Bitcoin supply.
Establishment of Amsterdam Bitcoin Treasury Strategy
The funding achievement, confirmed by Reuters on October 7, marks a significant milestone for Amdax as it sets the stage for the establishment of its own treasury entity, named the Amsterdam Bitcoin Treasury Strategy. As the company gears up to enter the market, CEO and co-founder Lucas Wensing expressed enthusiasm about advancing their Bitcoin strategy, which aims to provide investors with transparent access to this emerging asset class.
Competitive Landscape
Amdax is entering a competitive arena, joining a number of other major players in the industry looking to integrate Bitcoin into their balance sheets. Notably, another Dutch firm, Treasury, supported by the Winklevoss twins, is also building a Bitcoin treasury and has amassed a head start with a current holding of 1,000 BTC.
Funding and Future Plans
Initially, Amdax intended to finalize its fundraising efforts at 23 million euros but later revised this target, ultimately succeeding in raising 30 million euros as of September 2025. This capital will enable Amdax to initiate significant Bitcoin purchases before potentially going public on Euronext Amsterdam. This strategy aims not only to enhance the firm’s holdings but also to introduce a new Bitcoin-based investment vehicle to the European market.
Market Position and Bitcoin Valuation
If Amdax succeeds in reaching its target of 210,000 BTC, it would only fall short of current leader MicroStrategy, which holds over 640,031 BTC, representing more than 3% of the 21 million total Bitcoin supply and boasting an estimated worth of around $73 billion.
Recent Market Movements
In recent market movements, Bitcoin hit an all-time high of $126,080, surpassing its previous record of $125,500, though the price has since adjusted to around $123,879. This fluctuation still keeps it well above the critical $120,000 mark. With the recent funding of $35 million, Amdax could purchase approximately 282,533 BTC at current market prices—sufficient to establish itself as the second-largest Bitcoin treasury operation globally, although it would still be behind MicroStrategy.
