The Amsterdam Bitcoin Treasury Strategy (AMBTS), launched by the Dutch cryptocurrency service provider Amdax, has successfully raised €20 million ($23.2 million) in its first funding round. This investment, obtained through private placements, will kickstart the company’s strategy to accumulate bitcoin. The fundraising campaign is capped at €30 million ($34.8 million) and is expected to conclude by September 2025.

Key Takeaways:

• AMBTS has surpassed its initial funding goal, securing $23.2 million from investors.
• The raised funds will support AMBTS’s dedicated strategy for accumulating bitcoin, aiming for a listing on Euronext Amsterdam.
• Long-term goals include acquiring at least 1% of all bitcoin in circulation.

In a noteworthy endorsement, Marc van der Chijs, founder of bitcoin mining firm Hut 8, is among the early investors backing this initiative.