By Sudip Kar-Gupta BRUSSELS (Reuters) -Dutch cryptocurrency company Amdax, which plans to launch a bitcoin treasury company called AMBTS on the Dutch exchange, has raised 30 million euros ($35 million
Dutch crypto firm Amdax's AMBTS raises 30 million euros in funding
Amdax's Bitcoin Treasury Strategy
By Sudip Kar-Gupta
Funding Details and Future Plans
BRUSSELS (Reuters) -Dutch cryptocurrency company Amdax, which plans to launch a bitcoin treasury company called AMBTS on the Dutch exchange, has raised 30 million euros ($35 million) in financing, it said on Tuesday, highlighting the persistent appeal of Bitcoin.
Market Context and Competitors
Amdax said the closing of its initial financing round for AMBTS meant it was ready to start its programme of buying Bitcoin, which has hit record highs this month, breaching through the $125,000 price level.
"The closing of this round is an important milestone," said CEO and AMBTS co-founder Lucas Wensing. "We now move forward with our bitcoin strategy, aiming to offer investors transparent access to this unique asset class," he added in a statement.
Amdax will join a host of companies buying bitcoin for their treasury reserves, such as Dutch-based firm Treasury, backed by the U.S. billionaire Winklevoss twins, Strive, which is backed by former Republican U.S. presidential candidate Vivek Ramaswamy, and Michael Saylor's company Strategy.
($1=0.8554 euros)
(Reporting by Sudip Kar-Gupta; Editing by Clarence Fernandez)
