Bitcoin Treasury Races get hot when a Dutch company shoots at a 23-meter launch

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Dutch cryptocurrency service provider AMDAX has announced that it has raised more than $23 million to establish a Bitcoin finance company.

A new entity called AMBTS will be listed on the EuroNext Stock Exchange in Amsterdam. The report shows investors in the first round of funding have already committed to the full $23.3 million.

Targeting large shares of Bitcoin

AMBTS has a goal that stands out in its ambitions. It’s ultimately about 210,000 BTC, or about 1% of the total Bitcoin supply that exists.

At today’s prices, that amount is worth over $23 billion. The company hopes to build shareholder value by expanding its Bitcoin holdings and increasing crypto per share, depending on the market situation.

The move reflects a wave of waves of companies taking a financial approach in Bitcoin. The strategy, popularized in 2020 by Michael Saylor’s strategy, has steadily gained evidence among public and private companies.

Some companies simply add BTC to their balance sheets, while others are fully set up to accumulate digital assets.

Companies building the Bitcoin Ministry of Finance

The list of corporate building reserves goes beyond crypto-focused businesses. The strategy, which was previously MicroStrategy, owns over 632,000 BTC, the largest corporate reservoir. Tesla also holds reserves of Bitcoin, but Block, Inc. (formerly Square) has also been added to the Ministry of Finance.

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BTCUSD is currently trading at $108,462. Chart: TradingView

Japan’s Metaplanet is raising funds for more Bitcoin, and Dutch company AMDAX has launched AMBT to target 1% of its supply. Mercadolibre and Norwegian acres have also built reserves, indicating the global spread of this trend.

Canadian video sharing platform Rumble has also revealed its holdings of digital currency and has been added to the list of companies holding assets as part of its long-term strategy.

Meanwhile, companies established with the sole intention of a crypto acquisition are increasing their stack. Each coin they add to the financial resources removes more BTC from the circulation and strengthens supply.

Jumpers for position

Ambts, still in its early stages, are putting itself straight for the Treasury competition. With its $23.3 million raised and positioning its holdings to expand exponentially, the company places one of the increasingly large terms of institutions that view Bitcoin as a strategic reserve asset, rather than just another investment.

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