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3h ago

Winklevoss-Backed Treasury Raises €126 Million, Sets Reverse Merger to List in Amsterdam

The company positions itself as Europe’s first primary-exchange bitcoin treasury focused on scaling reserves.

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 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 and Off The Chain Capital.
  • To access Euronext Amsterdam, Treasury agreed a reverse merger with MKB Nedsense that would rename the entity Treasury N.V. and list under ticker TRSR, subject to a shareholder vote in the coming weeks, with trading potentially beginning in Q4 if approved.
  • The firm disclosed holdings of more than 1,000 BTC and says it will use future equity issuance and convertible debt to expand its bitcoin reserves and make BTC its primary reserve asset.
  • Treasury announced the acquisition of Amsterdam Decentralized B.V., organizer of the Bitcoin Amsterdam conference, and named Cameron and Tyler Winklevoss and David Bailey to its strategic advisory board.
  • Following the announcement, MKB Nedsense shares rose more than 30% intraday, as the company moves to join a growing set of European bitcoin treasury vehicles that now includes a planned Amdax listing.