Amdax Launches €23M Bitcoin Treasury Venture, Targeting 1% of Global Supply

Amsterdam-based crypto asset service provider Amdax has announced the launch of Amsterdam Bitcoin Treasury Strategy (AMBTS), an independent Bitcoin treasury company that has secured €20 million ($23.3 million) in initial funding with an extraordinarily ambitious goal: accumulating 1% of Bitcoin's total supply.

The announcement, made on August 29 by Amdax CEO Lucas Wensing, represents a significant strategic pivot for the regulated Dutch company, transforming from a service provider facilitating Bitcoin transactions for others into a principal accumulator seeking to build one of the world's largest corporate Bitcoin holdings.

The European Play for Bitcoin Dominance

AMBTS has set its sights on accumulating a minimum of 210,000 Bitcoin over time, which would represent exactly 1% of the cryptocurrency's predetermined 21 million coin supply. This target would position the company among the world's largest corporate Bitcoin holders, rivaling established players like MicroStrategy, which currently holds over 630,000 BTC.

The initial €20 million funding round has already met the company's minimum goal, with plans to close a final round capped at €30 million by September 2025. These funds will fuel an immediate Bitcoin acquisition strategy ahead of a planned initial public offering on Euronext Amsterdam, creating what the company describes as a "novel, equity-based Bitcoin vehicle for the European market."

"Based on the interest in Bitcoin from parties within our ecosystem, we decided to establish a dedicated Bitcoin treasury company," Wensing explained. "The appetite we have received for this initial financing round we believe indicates that investors welcome the initiative, providing them with an opportunity to participate in the rapidly developing market."

Strategic Positioning and Market Context

The launch of AMBTS comes at a time when corporate Bitcoin treasury strategies have gained significant momentum globally. According to BitcoinTreasuries.net, approximately 178 publicly traded companies have integrated Bitcoin into their treasury reserves, collectively holding nearly 990,000 BTC – nearly 5% of the total circulating supply.

The space is currently dominated by MicroStrategy, led by executive chairman Michael Saylor, which holds 632,457 BTC and has become synonymous with the corporate Bitcoin treasury movement. Other notable players include Bitcoin Standard Treasury Company and Japan's Metaplanet, which recently approved a nearly a billion-dollar fundraising effort specifically for Bitcoin acquisition.

AMBTS's European focus represents a strategic attempt to create a EUR-based counterweight to these predominantly dollar-denominated treasury vehicles. By establishing operations in Amsterdam and planning a listing on Euronext, the company is positioning itself to serve European institutional investors who may prefer exposure to Bitcoin through a domestically regulated entity.

Regulatory Advantages and Operational Foundation

Amdax's regulatory standing provides AMBTS with a significant operational advantage. As a MiCAR-licensed entity since June 26, 2025, Amdax operates under the European Union's comprehensive crypto asset regulation framework, offering custody, transfer, trading, staking, and asset management services for digital assets.

This regulatory foundation addresses one of the key concerns institutional investors have expressed about Bitcoin exposure: regulatory uncertainty and operational security. By operating under established EU financial regulations and leveraging Amdax's existing infrastructure, AMBTS can offer institutional-grade Bitcoin exposure with familiar regulatory oversight.

The company's approach of creating an independent entity while maintaining connections to Amdax's operational expertise represents a calculated strategy to maximize both regulatory clarity and operational efficiency. This structure allows AMBTS to focus exclusively on Bitcoin accumulation while benefiting from Amdax's established relationships and technical capabilities.

Market Risks and Competitive Challenges

Despite the ambitious goals and strong initial funding, AMBTS faces significant challenges in an increasingly competitive and volatile market. The Bitcoin treasury strategy, while potentially lucrative, carries substantial risks that have become more apparent as the market has matured.

Recent analysis from Standard Chartered highlights these vulnerabilities, estimating that a sustained drop in Bitcoin's price below $90,000 could render half of all corporate Bitcoin treasuries underwater. Such a scenario could trigger severe liquidity crises for companies that over-leveraged themselves during periods of elevated prices.

The inherent volatility of Bitcoin presents a stark contrast to traditional treasury holdings, which prioritize stability and liquidity. While companies like MicroStrategy have weathered significant price swings and maintained their accumulation strategies, the approach requires strong balance sheets and patient capital – characteristics that may be tested during extended bear markets.

The Path to Public Markets

AMBTS's planned listing on Euronext Amsterdam represents a crucial phase in the company's development strategy. The public offering will provide additional capital for Bitcoin acquisition while offering European investors direct exposure to Bitcoin through traditional equity markets.

This approach has proven successful for other Bitcoin treasury companies, with MicroStrategy's stock often trading at premiums to its underlying Bitcoin holdings during periods of strong market sentiment. However, these premiums can also disappear during market downturns, creating additional volatility for shareholders.

The European focus of AMBTS's public listing strategy could prove advantageous, as it may face less competition for investor attention compared to the more crowded U.S. market, where multiple Bitcoin-focused companies compete for capital.

Industry Implications and Future Outlook

The launch of AMBTS reflects broader institutional adoption trends that have been accelerating since Bitcoin's recovery from the 2022 bear market. The company's 1% supply target, while ambitious, represents the type of large-scale institutional commitment that Bitcoin advocates have long predicted would drive long-term price appreciation.

However, the success of AMBTS will largely depend on execution and market conditions. The company must navigate the complex process of accumulating such a large Bitcoin position without significantly impacting market prices, while also managing the operational challenges of securing and managing such substantial digital asset holdings.

The European angle also positions AMBTS to potentially benefit from ongoing regulatory developments in the EU, where clearer frameworks for digital asset operations continue to evolve. As traditional financial institutions become more comfortable with Bitcoin exposure, regulated entities like AMBTS may find themselves well-positioned to capture institutional demand.

Conclusion

AMBTS represents an ambitious bet on Bitcoin's long-term value proposition and the continued institutionalization of cryptocurrency markets. While the company enters a competitive field with significant operational and market risks, its regulatory foundation, European focus, and substantial initial funding provide a solid foundation for pursuing its audacious 1% supply target.

The success or failure of AMBTS will likely serve as an important case study for the viability of large-scale Bitcoin treasury strategies in the current market environment. As the company progresses toward its Euronext listing and begins its accumulation strategy, it will provide valuable insights into both the opportunities and challenges facing institutional Bitcoin adoption in European markets.

For investors and industry observers, AMBTS represents another significant test of the corporate Bitcoin treasury thesis – one that will play out in the public markets with transparency and regulatory oversight that could help validate or challenge the broader institutional adoption narrative.