Dutch cryptocurrency service provider Amdax plans to establish a Bitcoin asset company at the Amsterdam pan-European stock exchange, echoing European companies following the U.S. in adopting Bitcoin strategies.
Amdax announces it is creating AMBTS B.V., an independently governed private company aimed at accumulating 1% of the circulating Bitcoin.
The company plans to raise funds in phases through the market to expand its Bitcoin holdings and enhance shareholder value. To accumulate 1% of the total Bitcoin supply, it needs to exceed $24 billion at the current price.
Amdax is the first cryptocurrency service provider registered with the Dutch central bank in 2020, and has obtained a MiCA license issued by the Dutch Authority for the Financial Markets.
Amdax and AMBTS plan to raise funds from private investors to initiate a Bitcoin accumulation strategy.
Amdax offers trading in 33 cryptocurrencies, automated investment, and expert-managed investment strategies.
Increase in Bitcoin adoption by European companies
An increasing number of European companies are using Bitcoin as a primary reserve asset, although the proportion of Bitcoin in their investment portfolios remains relatively small.
At least 15 European companies have publicly announced the inclusion of Bitcoin, such as Germany's Bitcoin Group holding 3,605 BTC and the UK's Smarter Web holding 2,395 BTC.
Bitcoin's performance continues to outpace
Over the past decade, Bitcoin has increased by over 26,900%, far exceeding the 193% of the S&P 500 index and 125% of gold.
In Asia, the Japanese company Metaplanet is leading the push for corporate Bitcoin adoption, with holdings exceeding 18,888 BTC.
