Virtual Asset Firm Amdax to Establish Bitcoin Reserve Company

Son Min

Summary

Amdax announced plans to establish a Bitcoin (BTC) treasury company, aiming to reserve 1% of Bitcoin's circulating supply in the long term.
Amdax stated it will raise capital from private investors with the intention of purchasing Bitcoin.
With Bitcoin currently trading above $115,000, it is estimated that over $24 billion would be necessary to reserve 1% of the total supply.

Dutch cryptocurrency service provider Amdax is launching a Bitcoin (BTC) treasury company.

On the 18th (local time), Amdax announced on its official website, "We plan to establish a Bitcoin reserve company called 'AMBTS B.V'," adding, "Our goal is to hold 1% of the total circulating supply of Bitcoin in the long term." The company further stated, "We will raise capital from private investors to purchase Bitcoin."

The media outlet added, "Currently, the price of Bitcoin exceeds $115,000," evaluating, "More than $24 billion would be required to accumulate 1% of the total supply."

Meanwhile, Amdax reportedly did not respond to inquiries from the media regarding the timetable for capital raising and its specific plans for Bitcoin investment.

BTC