Dutch Crypto Giant Amdax Aims to Hoard 1% of All Bitcoin—Taking On Corporate Treasury Titans
Amsterdam's Amdax isn't playing small ball. The exchange just signaled plans to corner 1% of Bitcoin's total supply—roughly 210,000 BTC—putting it on collision course with MicroStrategy and other corporate HODLers.
Why this matters: This isn't your average accumulation play. Hitting this target would make Amdax a top-five Bitcoin whale overnight, reshaping custody dynamics across Europe.
The institutional land grab: While traditional finance debates ETF approvals, pragmatic European firms are building real crypto balance sheets. No paperwork, no intermediaries—just pure orange-pilling.
Bonus jab: Meanwhile, Goldman Sachs is still 'evaluating blockchain opportunities' over $1,000/hour consulting sessions.
Amdax to spin up a special AMBTC entity for holding BTC
The BTC acquisitions are a long-term goal for the firm, with no immediate purchases announced. Amdax will first create a special entity, AMBTC (Amsterdam Bitcoin Treasury Strategy), which will be listed on the Dutch stock exchange.
“While bitcoin has been the best performing major asset in the past 10 years with fast adoption as digital capital, it is still relatively small in investment portfolios. With now over 10% of Bitcoin supply held by corporations, governments and institutions, we think the time is right to establish a Bitcoin treasury company with the aim to obtain a listing on Euronext Amsterdam, as one of the leading exchanges in Europe. This will provide institutional investors with new financial instruments to get exposure to the performance of Bitcoin,” said Lucas Wensing, CEO of Amdax.
Amdax will be the main initiator of AMBTC, but the new company will operate as an independent entity and a focused corporate treasury strategy. AMBTC will have direct access to Amdax services and assistance, while maintaining its own operations as a private limited liability company.
AMBTC will raise capital from private investor rounds, starting with an initial seed round. After the funding is secured, the proceeds will be used immediately for a BTC accumulation strategy. The success of the funding is subject to documentation requirements and closing conditions.
As of August 18, AMBTC announced it is in advanced stages of preparation for its eventual Euronext Amsterdam listing through an IPO.
After the initial stages of funding, AMBTC will continue with a series of purchases, depending on market conditions. The approach resembles that of other treasury companies, which buy BTC sporadically depending on funding conditions and the BTC market.
BTC treasury companies slow down purchases
BTC treasuries now hold 3.67M BTC, with 976,921K held by public companies.
In the past weeks, treasury purchases slowed down somewhat, as small-scale entities stopped expanding their treasuries. Currently, 40 BTC is the cut-off level for the top 100 treasuries, though the bulk of holdings are heavily skewed to the top companies, Strategy and Metaplanet.
Even the latest Strategy and Metaplanet buying was relatively smaller compared to previous weeks. As Cryptopolitan reported, Metaplanet for now retains its bullish outlook, with an average price of $102,000 per BTC, achieving gains even after the latest BTC drawdown to the $115,000 range.
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