Winklevoss Capital and Nakamoto Holdings back $147M bitcoin treasury

The new Amsterdam-listed entity aims to become Europe’s leading Bitcoin treasury with over 1,000 BTC already secured

by Blockworks /
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Treasury BV, a new Bitcoin treasury company backed by Winklevoss Capital and Nakamoto Holdings, has raised €126 million (about $147 million). It is now preparing to list on Euronext Amsterdam through a reverse merger with Dutch firm MKB Nedsense.

The rebranded entity, to be called Treasury N.V. with ticker TRSR, aims to position itself as Europe’s leading Bitcoin treasury firm. The company already holds more than 1,000 BTC, worth more than $110 million at current prices, and plans to expand its reserves through additional equity and convertible debt offerings.

The initiative places Treasury in direct competition with US firms like MicroStrategy, which pioneered the corporate Bitcoin treasury model.

Treasury’s European strategy could broaden institutional access to Bitcoin exposure, particularly in markets where regulated investment products such as spot Bitcoin ETFs are less developed. The firm has also acquired the Bitcoin Amsterdam conference. 

Backers in the funding round include UTXO Management, Off the Chain Capital, M1 Capital and Mythos Venture Partners. The move follows the January 2024 approval of US spot Bitcoin ETFs and builds on Europe’s evolving crypto investment landscape. If successful, Treasury could become a bellwether for Bitcoin treasury models outside the United States.

Blockworks reported yesterday that Gemini filed for a Nasdaq IPO targeting a $2.2 billion valuation, underscoring the broader momentum in digital-asset finance. Meanwhile, corporate crypto treasuries continue to creep upward toward $100 billion in assets.

This is a developing story.


This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.


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