A significant development has emerged in the cryptocurrency landscape as Treasury B.V., a Dutch firm, has successfully secured €126 million ($147 million) in a private funding round. This investment, primarily led by Winklevoss Capital and David Bailey’s Nakamoto—part of KindlyMD—positions Treasury B.V. to potentially become the largest corporate holder of bitcoin in Europe.
Khing Oei, the CEO of Treasury B.V., articulated the company’s strategic vision as a euro-denominated bitcoin balance sheet entity. Its approach involves using a combination of equity and debt to systematically accumulate bitcoin, which it intends to use as its primary reserve asset while also exploring various bitcoin yield strategies. Currently, Treasury B.V. reports having accumulated over $111 million worth of bitcoin based on current market prices.
Plans for the company include a listing on Euronext Amsterdam through a reverse takeover of MKB Nedsense N.V. Additionally, Treasury will acquire the Bitcoin Amsterdam conference to enhance its outreach efforts, and it aims to establish a strategic advisory board that will feature prominent figures such as Cameron and Tyler Winklevoss, co-founders of Gemini, alongside David Bailey from Bitcoin Magazine.
The recent fundraising round attracted participation from several contributors, including UTXO Management, Off The Chain Capital, and M1 Capital, all of whom played a role in the acquisition of more than 1,000 BTC in preparation for the prospective listing.
Oei highlighted the transformative potential of bitcoin in global financial markets, emphasizing a future trend he refers to as the “equitization of Bitcoin.” This trend is anticipated to vastly expand access and ownership of bitcoin, potentially rivaling traditional financial markets. Once the reverse listing is finalized with MKB Nedsense N.V., Treasury B.V. expects to trade under the ticker “TRSR.”
This initiative aligns with a growing trend where corporations are increasingly adopting U.S.-style “bitcoin treasury” models. Current data indicates that public companies have amassed over 4% of bitcoin’s total supply, amounting to approximately 780,980 bitcoins valued at over $87 billion. Leading the way in this trend is Michael Saylor’s Strategy, which holds more than 636,505 BTC, recently augmented by a notable purchase of 4,048 BTC for $449.3 million.
In response to this evolving landscape, KindlyMD has also made headlines with its sizeable investment in bitcoin. Following its merger with Bailey’s Nakamoto Holdings, the healthcare firm acquired 5,744 BTC for about $679 million in August, marking the beginning of its own treasury strategy.
This news signifies a pivotal moment for corporate engagement with cryptocurrency, particularly bitcoin, as firms look to build substantial balances as part of their strategic financial frameworks.
