The Crypto Service Company based in the Netherlands Amdax has today announced its intention to launch a Bitcoin cash (BTC) called AmbTS BV (AMBTS), in order to register it on Euronext Amsterdam.
Amdax unveils a Bitcoin cash flow company
In a decision which underlines the growing trend of European companies adopting Bitcoin strategies, the Dutch cryptocurrency service provider AMDAX revealed that he was laid the foundations of a dedicated Bitcoin Treasury company to register for the Euronext purse in Amsterdam.
AmbTS will work as a private company with an independent governance structure and a singular concentration on the accumulation of BTC. The company aims to acquire up to 1% of the total Bitcoin supply, raising capital from private stages to achieve this ambitious objective.
At current market prices, hold 1% of the Bitcoin offer – around 210,000 BTC – would require an investment of around 24 billion dollars. Currently, only the strategy holds more than 1% of the offer, with 628,946 BTC on its balance sheet.
Amdax highlighted the low correlation of Bitcoin with traditional asset classes as a key engine of institutional interest. The company noted that persistent inflation, geopolitical instability and the increase in regulatory clarity have strengthened the BTC call, reflected in its recent price performance.
According to Amdax, the product of the initial financing tour will be used to “be a step ahead with the BTC accumulation strategy”, which, depending on the company, will also increase its capital value over time.
For history, AMDAX operates as a license cryptocurrency service provider for over five years. In 2020, he became the first Dutch cryptocurrency company to register with the Dutch Central Bank (DCB). Commenting on the development, Lucas Wensing, CEO of AMDAX, said:
Although Bitcoin has been the most efficient major asset in the past 10 years with rapid adoption as digital capital, it is still relatively small in investment portfolios. With now more than 10% of the BTC supply held by companies, governments and institutions, we believe that the time has come to establish a Bitcoin cash company in order to obtain a list on Euronext Amsterdam.
The adoption of the BTC in Europe is growing
Although European companies were initially hesitated to adopt the BTC, many are now warm to cryptocurrency. A favorable regulatory environment and increasing institutional adoption in the United States have contributed to the change in Europe to digital assets.
For example, the British company The Smarter Web Company recently extended His holders of cryptocurrency at 1,825 BTC after buying 225 additional BTC. Likewise, Satsuma technology, also based in the United Kingdom, raised $ 135 million to increase its exposure to the BTC.
Meanwhile, the sovereign fund of Norway disclosed The fact that its indirect exposure on the BTC increased 192% in annual sliding, stressing the growing Role of the BTC in European institutional portfolios. At the time of the press, BTC is negotiated at $ 116,100, down 1.8% in the last 24 hours.
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