PANews reported on August 18 that according to Reuters, Amsterdam-based cryptocurrency service provider Amdax announced plans to launch a Bitcoin treasury company called AMBTS (Amsterdam Bitcoin Treasury Strategy) and list it on the Euronext exchange in the Netherlands.

Amdax CEO Lucas Wensing stated that with over 10% of the Bitcoin supply currently held by businesses, governments, and institutions, the time is ripe for the company to promote strategic Bitcoin reserves. Bitcoin has surged 32% this year, reaching a record high, fueled by positive regulatory developments and support from US President Trump. AMBTS plans to raise capital through private financing, with the long-term goal of holding at least 1% of the total Bitcoin supply.