Treasury BV Raises €126M to Lead Europe’s Bitcoin Treasury Push

Treasury BV, a Netherlands-based bitcoin treasury company, announced that it has raised €126 million ($147 million) in a private funding round led by Winklevoss Capital and Nakamoto Holdings. The funding will enable Treasury to acquire over 1,000 bitcoins as it aims to become the largest publicly traded European bitcoin treasury company.

The company, led by CEO Khing Oei, has entered a binding agreement with Dutch investment firm MKB Nedsense NV (MKBN) to execute a reverse listing on Euronext Amsterdam. Treasury, backed by bitcoin pioneers Tyler and Cameron Winklevoss, intends to lead Europe’s bitcoin strategy.

Acquisition and Expansion Efforts

Treasury BV also announced its acquisition of Bitcoin Amsterdam, Europe’s flagship bitcoin conference, as part of its broader mission to expand bitcoin adoption across the continent.

"Bitcoin is shaping the future of global financial markets, and the next wave, which we call the equitization of bitcoin, is expected to dramatically broaden access and ownership that will rival traditional markets," said Khing Oei, CEO of Treasury BV. "Treasury was established to level the playing field in Europe by expanding access and strategically positioning bitcoin at the core of the region’s financial ecosystem."

Details of the Listing Transaction

As part of the reverse listing, MKB Nedsense will transfer all its assets and liabilities to its largest shareholder, Value8 NV, before issuing new shares to Treasury’s investors. The issuance price, along with a dividend of 4.35 euro cents per share, represents a 72% premium over MKBN’s July 11 closing price and a 90% premium to the three-month volume-weighted average price.

Treasury BV expects to trade under the ticker TRSR once the transaction is finalized.

The Rise of Bitcoin Treasury Companies in Europe

Treasury's initiatives align with a growing trend in Europe, where companies are increasingly adopting Bitcoin as a core component of their financial strategies. For instance, Amdax, a Dutch crypto service provider, has secured €20 million ($23 million) in initial funding for its Amsterdam-based Bitcoin treasury strategy. Amdax plans to list its treasury company on Amsterdam’s Euronext stock exchange, aiming to provide Europe with an equity-based Bitcoin vehicle.

Similarly, The Blockchain Group, Europe's first Bitcoin treasury company, has demonstrated consistent activity in expanding its Bitcoin holdings. In March 2025, the company announced the acquisition of 580 BTC, marking its largest single purchase to date. This move reflects a clear and deliberate treasury strategy, positioning The Blockchain Group at the forefront of Europe's Bitcoin treasury landscape.

Market Reaction and Future Outlook

Following the announcement, MKBN shares surged more than 30%, reaching €0.15 per share shortly after the market opened. This positive market response indicates strong investor interest in Bitcoin treasury companies and underscores the growing confidence in Bitcoin as a legitimate asset class within the European financial markets.

As Treasury prepares for its public listing, it joins a cohort of companies in Europe embracing Bitcoin as a strategic asset, signaling a significant shift towards integrating digital assets into traditional financial frameworks.