The post Amdax Targets 1% of All Bitcoin With $23M Treasury Launch appeared on BitcoinEthereumNews.com. Dutch cryptocurrency service provider Amdax raised 20 million euros ($23.3 million) to launch a Bitcoin treasury company on Amsterdam’s Euronext stock exchange. According to a Friday announcement, multiple investors have committed about $23.3 million in an initial financing round for Amdax’s Bitcoin (BTC) treasury. This follows an announcement earlier this month that it would launch the treasury as an independent, privately held company with its own governance, AMBTS. AMBTS is being created to eventually accumulate at least 1% of all Bitcoin that will ever be created, or about 210,000 BTC. Such an amount of Bitcoin is currently worth over $23 billion. “AMBTS intends to leverage the capital markets to increase its Bitcoin holdings and sequentially generate equity appreciation and grow Bitcoin per share for its shareholders, subject to market and other conditions,” the announcement said. Entities holding Bitcoin. Source: BitcoinTreasuries.NET Related: The Bitcoin treasury model is breaking, but Strategy’s isn’t. Here’s why The rise of corporate Bitcoin treasuries Ever since Strategy — then still MicroStrategy — demonstrated the viability of this approach, the Bitcoin treasury tactic has been gaining momentum among publicly traded companies. This trend has also led to multiple companies not focused solely on Bitcoin accumulation starting to acquire it. Such firms include US electric vehicle manufacturer Tesla, US thermal and battery safety firm KULR Technology, Norwegian industrial investment firm Aker, Brazilian fintech Méliuz, Latin America’s leading e-commerce MercadoLibre, Malta-based investment manager Samara, Thai telecom Jasmine, US coal producer Alliance and Canadian video-sharing platform Rumble. Companies focused on acquiring Bitcoin, meanwhile, have continued to accumulate more. This also decreases the amount of Bitcoin in circulation. Total Bitcoin Treasuries. Source: BitcoinTreasuries.NET Related: Satsuma secures $218M, including $125M in BTC, to advance Bitcoin strategy Bitcoin’s accumulation continues Earlier this week, Japanese Bitcoin treasury Metaplanet approved a plan to raise about… The post Amdax Targets 1% of All Bitcoin With $23M Treasury Launch appeared on BitcoinEthereumNews.com. Dutch cryptocurrency service provider Amdax raised 20 million euros ($23.3 million) to launch a Bitcoin treasury company on Amsterdam’s Euronext stock exchange. According to a Friday announcement, multiple investors have committed about $23.3 million in an initial financing round for Amdax’s Bitcoin (BTC) treasury. This follows an announcement earlier this month that it would launch the treasury as an independent, privately held company with its own governance, AMBTS. AMBTS is being created to eventually accumulate at least 1% of all Bitcoin that will ever be created, or about 210,000 BTC. Such an amount of Bitcoin is currently worth over $23 billion. “AMBTS intends to leverage the capital markets to increase its Bitcoin holdings and sequentially generate equity appreciation and grow Bitcoin per share for its shareholders, subject to market and other conditions,” the announcement said. Entities holding Bitcoin. Source: BitcoinTreasuries.NET Related: The Bitcoin treasury model is breaking, but Strategy’s isn’t. Here’s why The rise of corporate Bitcoin treasuries Ever since Strategy — then still MicroStrategy — demonstrated the viability of this approach, the Bitcoin treasury tactic has been gaining momentum among publicly traded companies. This trend has also led to multiple companies not focused solely on Bitcoin accumulation starting to acquire it. Such firms include US electric vehicle manufacturer Tesla, US thermal and battery safety firm KULR Technology, Norwegian industrial investment firm Aker, Brazilian fintech Méliuz, Latin America’s leading e-commerce MercadoLibre, Malta-based investment manager Samara, Thai telecom Jasmine, US coal producer Alliance and Canadian video-sharing platform Rumble. Companies focused on acquiring Bitcoin, meanwhile, have continued to accumulate more. This also decreases the amount of Bitcoin in circulation. Total Bitcoin Treasuries. Source: BitcoinTreasuries.NET Related: Satsuma secures $218M, including $125M in BTC, to advance Bitcoin strategy Bitcoin’s accumulation continues Earlier this week, Japanese Bitcoin treasury Metaplanet approved a plan to raise about…