Amsterdam-based company Amdax has announced plans to launch a Bitcoin treasury strategy on the Dutch stock exchange Euronext. This event highlights the growing interest and trust in digital assets.
Amdax's Plans for Bitcoin Treasury Launch
Amdax, a cryptocurrency platform, announced the launch of a BTC treasury called AMBTS (Amsterdam Bitcoin Treasury Strategy) on the Euronext stock exchange. According to Amdax CEO Lucas Wensing, with over 10% of Bitcoin reserves held by corporations and financial institutions, there is a need to establish a Bitcoin accumulation company.
> "With now over 10% of bitcoin supply held by corporations, governments, and institutions, we think the time is right to establish a bitcoin treasury company to obtain a listing on Euronext Amsterdam, as one of the leading exchanges in Europe." – Lucas Wensing
Current Bitcoin Market Status
Currently, Bitcoin is undergoing a volatile period, which has been exacerbated by a recent price drop. Over the past few days, the price of BTC significantly decreased after reaching an all-time high of over $124,000. At the moment, BTC is trading at around $115,000, indicating difficulties in recovering lost ground.
Amdax's Regulatory Compliance
Amdax has been operating for more than 5 years and holds all necessary licenses. In 2020, it was the first to register with the Dutch Central Bank (DNB) as a digital asset service provider. Additionally, Amdax obtained a MiCA license from the Dutch Authority for the Financial Markets (AFM), confirming its high level of compliance with laws and regulations.
Amdax's plan to create a Bitcoin Treasury underscores the increasing interest in Bitcoin accumulation among institutional investors. Considering the current instability in the cryptocurrency market, the launch of AMBTS could be a significant step towards further democratization and legitimization of Bitcoin as an asset.