|
Getting your Trinity Audio player ready...
|
- Treasury raised €126M to acquire 1,000 Bitcoin as reserves.
- Plans a reverse listing on Euronext Amsterdam via MKB Nedsense merger.
- Joins Europe’s growing Bitcoin treasury race amid rising competition and risks.
Stay ahead with real-time updates and insights—Join our Telegram channel!
A new euro-denominated Bitcoin company, Treasury, has raised €126 million ($147 million) in a private funding round led by Winklevoss Capital and Nakamoto Holdings. The funds were immediately used to acquire more than 1,000 BTC, positioning the company among Europe’s largest corporate Bitcoin holders.
Treasury Targets Euronext Amsterdam Listing
Treasury announced plans to become the first Bitcoin treasury firm listed on a primary European stock exchange. To achieve this, it will pursue a reverse listing by merging with Dutch lender MKB Nedsense, granting it a fast track onto Euronext Amsterdam.
Founder and CEO Khing Oei said the company will rely on a mix of equity issuance and convertible debt to expand its Bitcoin reserves, aiming to make BTC its primary reserve asset.
Rising Competition Among European Bitcoin Treasuries
With its initial 1,000 BTC purchase, Treasury now joins the ranks of top European Bitcoin treasuries. German firm Bitcoin Group leads with 3,605 BTC, followed by France’s Sequans Communications (3,205 BTC) and the UK’s Smarter Web Company (2,440 BTC).
The competition is heating up: Dutch crypto service provider Amdax also plans to launch a similar Bitcoin treasury on Euronext Amsterdam, reflecting a broader trend of institutional adoption across Europe.
Risks of the Bitcoin Treasury Model
Despite growing popularity, Bitcoin treasury strategies remain controversial. Critics warn that excessive leverage and exposure to volatile markets could put firms at risk of collapse. Breed Capital cautioned that many treasuries could fall into a “death spiral” if market conditions worsen.
Oei acknowledged the risks, stressing that Treasury intends to maintain lower leverage than peers. Still, analysts such as Milo CEO Josip Rupena have compared crypto treasuries’ systemic risks to the collateralized debt obligations that triggered the 2008 financial crisis.
Treasury’s €126 million raise and 1,000 BTC acquisition mark a major step for European Bitcoin adoption. With its planned Euronext listing, the firm seeks to establish itself as a leading Bitcoin treasury company. However, with growing competition and mounting concerns about risk, the success of this bold strategy will depend on careful financial management in a volatile market.
Stay ahead with real-time updates and insights—Join our Telegram channel!
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
Also Read: Bitcoin Pullback Holds: $123K–$150K in Sight
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
