Treasury Secures $147 Million to Acquire 1,000 Bitcoins
Treasury Secures $147 Million Funding
- Treasury, a Euro-denominated Bitcoin company, raised $147 million in a funding round led by Nakamoto Holdings and Winklevoss Capital.
- Funds will be used to purchase over 1,000 Bitcoins.
- Treasury aims to become the first Bitcoin treasury company listed on a primary European exchange.
Listing Plans on Euronext Amsterdam
- Treasury plans to list on Euronext Amsterdam through a reverse merger with lender MKB Nedsense, bypassing traditional IPO processes.
- CEO Khing Oei intends to utilize equity issuance and convertible debt to increase Bitcoin reserves.
- The firm currently holds about 1,000 BTC, positioning it among Europe's top corporate Bitcoin holders.
- Demand for Bitcoin as a reserve asset is rising among European firms.
- Germany's Bitcoin Group leads with 3,605 BTC, followed by Sequans Communications (3,205 BTC) and The Smarter Web Company (2,440 BTC).
Funding Backing and Strategy
- The funding round included backing from UTXO Management, Off The Chain Capital, M1 Capital, Mythos Venture Partners, and over 50 other investors.
- Funding supports Treasury’s capital markets strategy to systematically acquire Bitcoin and generate yield.
- This approach mirrors that of Strategy, which recently added 4,048 BTC to its holdings.
Market warnings are increasing regarding the potential formation of a "death spiral" as the number of Bitcoin treasury firms grows.