The Amsterdam-based corporation will lead the initiative in the region, with the goal of going public on the local stock exchange. However, the chosen asset has experienced a period of high volatility and has yet to recover. In an announcement to Reuters, Amdax, a cryptocurrency platform, revealed its plans to launch a BTC treasury called AMBTS (Amsterdam Bitcoin Treasury Strategy) on the Dutch stock exchange Euronext. This is the latest in a series of institutions that have adopted Bitcoin as a reserve strategy, highlighting the increasing levels of adoption and trust in digital assets. “With more than 10% of the bitcoin supply now held by corporations, governments, and institutions, we believe the time is right to establish a bitcoin treasury company and list it on Euronext Amsterdam, one of the leading exchanges in Europe.” – Lucas Wensing, CEO of Amdax The cryptocurrency exchange has been in operation for over 5 years and is fully licensed, with a strong compliance framework. In 2020, it became the first digital asset service provider in the Netherlands to register with the Dutch Central Bank (DNB). It also received a Markets in Crypto-Assets Regulation (MiCA) license from the Dutch Authority for the Financial Markets (AFM). AMBTS will operate as a separate entity from Amdax, as a private limited liability company, with its own governance. The capital raising strategy will focus on securing investments from several private investors in an initial round, with the proceeds expected to be used to initiate a Bitcoin accumulation strategy. The strategic fund is already in advanced stages for a listing on the Euronext through an IPO. After going public, the long-term goal of AMBTS is to become a treasury that owns 1% of the total BTC supply over time, similar to Metaplanet, which is already significantly ahead with its plan. How Is Bitcoin Doing? The leading cryptocurrency has experienced a downturn over the past few days, with the most significant crash occurring on Thursday, following a new all-time high (ATH) of over $124,000. However, this did not last long, as just hours later, the price dropped by several thousand dollars to below $118,000, caused by a massive sell-off likely fueled by unfavorable inflation data, which also led to a series of liquidations. At the time of writing, BTC is trading at around $115,000, still far from recovering the losses from last week. SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin! Tags: Bitcoin Enjoy reading? Share with your friends Facebook according to SEO standards.
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