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Treasury Raises €126 Million, Sets Reverse Merger to List Bitcoin Reserve Company in Amsterdam

The binding deal with MKB Nedsense awaits a shareholder vote that could open trading as soon as the fourth quarter.

Bitcoin logo, representation of cryptocurrencies and rising stock graph are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations
Winklevoss twins back $147m raise for treasury’s landmark european bitcoin listing
Treasury has announced new funding.
Winklevoss twins

Overview

  • A private round led by Winklevoss Capital and Nakamoto Holdings provides €126 million to fund the purchase of more than 1,000 BTC.
  • Treasury entered a binding agreement to merge into MKB Nedsense, which would be renamed Treasury N.V. and list under the ticker TRSR if approved.
  • The proposed terms value the deal at about a 72% premium to MKBN’s undisturbed price, and MKBN shares jumped more than 30% intraday on the announcement.
  • Treasury is expanding its profile by acquiring the Bitcoin Amsterdam conference and forming a strategic advisory board that includes Tyler and Cameron Winklevoss and David Bailey.
  • CEO Khing Oei plans to grow BTC reserves via future equity issuance and convertible debt as rivals pursue similar listings in Europe, including Amdax’s planned AMBTS.