The private round was led by Winklevoss Capital and Nakamoto Holdings.
Treasury plans to become the first Bitcoin treasury company listed on a major European exchange. Instead of a traditional IPO, the firm will pursue a reverse listing by merging with Dutch lender MKB Nedsense, giving it direct access to Euronext Amsterdam. CEO Khing Oei said the company will rely on both equity issuance and convertible debt to steadily grow its Bitcoin reserves.
The move puts Treasury alongside some of the continent’s most prominent corporate BTC holders. According to BitcoinTreasuries.net, Germany’s Bitcoin Group leads with 3,605 BTC, followed by Sequans Communications in France with 3,205 BTC and the UK’s Smarter Web Company with 2,440 BTC.
Competition is heating up: Dutch crypto services firm Amdax also plans to launch a Bitcoin treasury listed on Euronext. With several companies now vying for investor attention, the European market for Bitcoin-focused treasuries is beginning to resemble the corporate race already underway in the U.S.
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