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Winklevoss-Backed Treasury Raises €126 Million for Amsterdam Listing via Reverse Merger

The company says it holds over 1,000 BTC to anchor a public vehicle for European investors.

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

  • Treasury BV secured €126 million ($147 million) in a private round led by Winklevoss Capital and Nakamoto Holdings with participation from more than 50 investors including UTXO Management, Off The Chain Capital, M1 Capital and Mythos Venture Partners.
  • The firm plans to list on Euronext Amsterdam through a reverse merger with MKB Nedsense, which would be renamed Treasury N.V. and trade under the ticker TRSR, subject to shareholder approval.
  • Deal terms outlined in filings imply about a 72% premium with an expected post-consolidation price near €2.10, while MKBN shares jumped more than 30% after the announcement.
  • Treasury disclosed holdings exceeding 1,000 BTC and intends to expand its reserves using future equity issuance and convertible debt, with bitcoin positioned as its primary reserve asset.
  • The company announced the acquisition of the Bitcoin Amsterdam conference to bolster outreach, and trading could begin as soon as the fourth quarter if shareholders approve the merger.