Dutch company Amdax continues the trend of European corporations acquiring Bitcoin and sets ambitious goals.
Amdax's BTC Acquisition Plan
Amdax plans to acquire 210K BTC, which represents 1% of the total Bitcoin supply. This decision comes as part of the ongoing trend of European corporations navigating the cryptocurrency market. Amdax is already a leading provider of crypto products in the Netherlands.
Establishment of AMBTC as a Separate Entity
To implement its plans, Amdax will create a separate entity called AMBTC (Amsterdam Bitcoin Treasury Strategy) that will be listed on the Dutch stock exchange. 'We believe that the time is right to establish a Bitcoin treasury company with the aim to obtain a listing on Euronext Amsterdam,' said Lucas Wensing, CEO of Amdax. AMBTC will operate as a separate entity but will have access to Amdax's services.
BTC Market State and Slowing Purchases
As of August 2023, treasury companies hold 3.67M BTC, with 976,921K held by public companies. Recently, purchases have slowed as smaller entities have paused their treasury expansions.
Amdax represents a significant move towards increasing corporate investment in Bitcoin, advancing its influence in the cryptocurrency market.
