DeutschThe Dutch financial service provider Amdax is planning to establish its own Bitcoin proxy firm. The new company is to be named AMBTS and will be available on Europe’s largest stock exchange as a listed Bitcoin alternative. MicroStrategy’s successful investment strategy is to be applied.
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Amdax: this New European Bitcoin Proxy Firm is on the Horizon
The crypto service provider Amdax is planning to establish a new European Bitcoin proxy firm – this is according to a report by Reuters. The company is to operate under the name AMBTS (short for Amsterdam Bitcoin Treasury Strategy).
The Dutch service provider would like to join a global trend. In September 2020, MicroStrategy (now Strategy) began investing huge amounts of money in Bitcoin. The concept of the company founder Michael Saylor worked – although the software developer has been weak in its core business for years, the share price has experienced a renaissance.
Because of their success, other companies joined the Bitcoin strategy – such as the Japanese investor Metaplanet, which is also not from the industry, or the US retail chain GameStop.
Companies that build up a Bitcoin reserve want to secure their own future. Because the Bitcoin price has grown continuously since the creation of the cryptocurrency in 2009, it is considered very likely that profits through sales will continue to be possible.
Amdax, on the other hand, wants to close a gap in the European market and is planning the new establishment of AMBTS specifically for this purpose. With AMBTS, they want to offer European stock market speculators who are looking for a domestic Bitcoin proxy investment a point of contact.
However, the Dutch company can no longer play a pioneering role. Even in Europe, individual companies are already investing considerable amounts of money in BTC and are calling themselves Bitcoin Treasury Company.
For example, the French company Capital B (formerly The Blockchain Group) has already acquired 2,201 BTC. Just a few days ago, CoinPro reported on Sequans – the French semiconductor manufacturer started its new Bitcoin reserve rapidly.
The largest listed Bitcoin investor on the continent is the German Bitcoin Group, which, however, does not call itself a Treasury Company. According to its own statements, however, it is pursuing a long-term Bitcoin investment strategy. To date, the Bitcoin Group has collected 12,387 coins worth 1.43 billion US dollars.
This is how Ambitiously AMBTS Plans to Invest in Bitcoin
Amdax is planning to list AMBTS on the Dutch Euronext stock exchange. After all, it is Europe’s largest stock exchange with a market capitalization of 5.6 trillion US dollars.
“Since companies, governments and institutions hold more than ten percent of the Bitcoin supply, we believe the time has come to establish a Bitcoin treasury company. It aims to obtain a listing on Euronext Amsterdam, one of the leading stock exchanges in Europe”, argues Amdax Managing Director Lucas Wensing.
AMBTS should by no means be a small player. With the support of private investors, they want to accumulate enough capital to gradually acquire at least one percent of the Bitcoin maximum supply.
Bitcoin’s maximum supply is 21 million. One percent of that corresponds to a total of 210,000 BTC, which currently have a market value of 24 billion US dollars. Currently, only Strategy exceeds this value with assets of 629,000 Bitcoin.
