In an audacious move that’s turning heads across the cryptocurrency sector, Treasury BV announced it has successfully raised a whopping 126 million euros ($147 million) in a private funding round. This maneuver—led by none other than Winklevoss Capital and Nakamoto Holdings—positions Treasury to acquire more than 1,000 bitcoin as it gears up to become Europe’s largest publicly traded bitcoin treasury company. The announcement comes amid an ambitious plan to execute a reverse listing on Euronext Amsterdam, in partnership with Dutch investment firm MKB Nedsense NV.
Winklevoss Twins Back Ambitious European Play
The Winklevoss twins, known for their early and prolific investments in the crypto space, are lending their weight to Treasury’s bold vision of transforming Europe’s bitcoin landscape. “Bitcoin is shaping the future of global financial markets,” stated Treasury’s CEO, Khing Oei, with palpable enthusiasm. “The next wave, which we call the equitization of bitcoin, is expected to dramatically broaden access and ownership that will rival traditional markets.”
The reverse listing agreement with MKB Nedsense NV is set to be a game-changer. With this deal, all assets and liabilities of the Dutch company will be transferred to its largest shareholder, Value8 NV, before new shares are issued to Treasury’s investors. This strategic move represents a hefty premium—72% above MKBN’s undisturbed July 11 closing price and a striking 90% premium relative to the three-month volume-weighted average price.
A New Chapter for European Bitcoin Strategy
In a twist that excites bitcoin enthusiasts, Treasury has also acquired Bitcoin Amsterdam, Europe’s flagship bitcoin conference. This acquisition is a testament to their commitment to expanding bitcoin adoption across the continent. The Netherlands-based firm seems poised to spearhead Europe’s bitcoin strategy, aiming to embed bitcoin deeply within the region’s financial systems. This mirrors the ambitions of other firms like Amdax, which recently launched a $23M treasury targeting 1% of Bitcoin supply, as detailed in our coverage of Amdax’s strategy.
The market’s initial reaction has been telling. Shares of MKBN surged more than 30% post-announcement, reflecting growing investor confidence in this bold, new direction. Trading under the ticker TRSR once the transaction finalizes, Treasury is setting the stage for what could be a seismic shift in how bitcoin is perceived and utilized in European markets.
Historical Context and Market Trends
For those new to the scene, it’s worth noting that the Winklevoss twins have long been synonymous with cryptocurrency innovation. Their involvement lends credibility and a certain gravitas to Treasury’s ventures. Historically, Europe has been cautious in its embrace of cryptocurrencies, but recent trends indicate a warming climate. Financial entities are increasingly acknowledging bitcoin’s potential as a legitimate financial instrument, and Treasury BV’s maneuver could well be the catalyst for a broader shift. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
Here’s the catch: while Treasury’s aggressive strategy is drawing attention, it also raises questions about sustainability. Can the company maintain this momentum and deliver on its promise to ‘level the playing field’ in Europe? Skeptics might argue that the volatility of bitcoin presents inherent risks. Yet, proponents believe this equitization could democratize financial markets, making bitcoin accessible to a broader audience.
Future Implications and Unresolved Questions
What does all this mean for investors and the broader market? In the short term, Treasury’s moves are likely to stir enthusiasm and possibly spur similar initiatives from other players. However, the real test will be in the execution and whether Treasury can effectively integrate bitcoin into the financial fabric of Europe.
As we look ahead, the implications of Treasury’s dynamic strategy are tantalizing yet fraught with uncertainty. Will this model of equitization catch on, and how will regulatory bodies respond? These are questions that will unfold as Treasury BV continues its journey. In the meantime, the crypto world watches with bated breath, eager to see if this ambitious venture will indeed level the financial playing field in Europe—or if it will simply be another bold attempt that fizzles out in the volatile cryptocurrency market.
Source
This article is based on: Winklevoss Twins Back $147M Raise for Treasury’s Landmark European Bitcoin Listing
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
