Amdax Raises $23M for Bitcoin Treasury – Europe’s Bold Bid to Rival MicroStrategy?

Dutch crypto service provider Amdax has secured €20 million ($23 million) in initial funding for its Amsterdam Bitcoin Treasury Strategy (AMBTS), planning to accumulate 1% of Bitcoin’s total supply over ￰1￱ plans to complete its private funding round at €30 million ($34 million) before pursuing a public listing on Euronext ￰2￱ company plans to leverage capital markets to grow Bitcoin per share while building toward the 210,000 BTC target, worth approximately $23 billion at current ￰3￱ Bitcoin holdings have exploded to 3.68 million tokens across 310 entities, valued at $408 billion.) Following the recent establishment of AMBTS B. V. (‘AMBTS’) by Amdax, we hereby announce… ￰4￱ — Amdax (@AmdaxNL) August 29, 2025 The company believes Europe needs its own Bitcoin treasury giant to compete with ￰5￱ Asian corporate adoption rates, in which institutional holdings have reached a large scale.

However, amid this growth, corporate treasury strategies face mounting ￰6￱ DBRS analysts recently warned that crypto treasury functions heighten credit risks due to Bitcoin’s volatility compared to traditional reserve ￰7￱ concentration among top holders amplifies systemic exposure, with the top 20 public companies controlling 94% of corporate Bitcoin ￰8￱ volatility measures are nearly five times higher than those of the S&P 500 in short-term periods and four times higher in the long ￰9￱ volatility fundamentally alters traditional treasury management roles, which are designed to maintain stability and ensure consistent operations. Additionally, regulatory uncertainty remains a pressing challenge, as there is no uniform global framework governing ￰10￱ the beginning of corporate Bitcoin accumulation, unusual stock movements ahead of these treasury announcements have been observed and are prompting scrutiny of insider ￰11￱ instance, MEI Pharma’s stock nearly doubled before it announced a $100 million acquisition of Litecoin.

Similarly, SharpLink’s shares more than doubled three days before the company announced a $425 million Ethereum ￰12￱ Signs Flash as Institutional Momentum Builds Earlier this month, Sentora research also warne d that Bitcoin treasury strategies are “negative-carry trades” where companies borrow fiat to acquire non-yielding ￰13￱ traditional carry trades with positive yield cushions, Bitcoin strategies offer no yield protection during adverse ￰14￱ interest rates amplify negative carry effects, while Bitcoin’s price stagnation over extended periods could erode conviction and make equity issuance ￰15￱ research notes that no lender of last resort exists when Bitcoin carry trades break, making risks “binary and reflexive.” Companies that use aggressive financing mechanisms face a particular ￰16￱ firms often maintain razor-thin margins while holding 50-80% of Bitcoin assets, creating high liquidation risks during downturns when short-term cash needs ￰17￱ treasuries are actively accumulating, ETFs are also dominating the ￰18￱ to a Cryptonews report today, Bitcoin ETFs have captured 13.1% of total spot trading volume since the ￰19￱ election, generating $5-10 billion in daily activity that rivals that of major cryptocurrency ￰20￱ Bitcoin ETFs dominate spot volume with $10B daily trading, capturing 13.1% market share as Ethereum ETFs surge with $4B August inflows. #Bitcoin #ETFs ￰0￱ — ￰21￱ (@cryptonews) August 29, 2025 Ethereum ETFs experienced strong momentum, with $4 billion in net inflows in August, while Bitcoin ETFs recorded $800 million in net ￰22￱ advisers emerged as the largest identifiable ETF holders, controlling over $1.3 billion in Ether ETFs and $17 billion across Bitcoin ￰23￱ institutional preference for Ethereum’s rotation accelerated as corporate treasury activity expanded beyond Bitcoin.