Treasury launches with the ambition to become Europe's largest Bitcoin treasury company, backed by Winklevoss Capital and Nakamoto Holdings Inc.
€126 million raised through a private round led by Winklevoss Capital and Nakamoto Holdings Inc. — more than 1,000 Bitcoin already accumulated.
Highlights
- Treasury B.V. (“Treasury”), an emerging euro-denominated Bitcoin treasury company, has raised initial funding of €126 million ($147 million) through a private round led by Winklevoss Capital and Nakamoto Holdings Inc., a subsidiary of KindlyMD, Inc. (NASDAQ: NAKA). With this funding, Treasury has already accumulated more than 1,000 Bitcoin to advance its Bitcoin strategy.
- Treasury has the ambition to be the first Bitcoin treasury company listed on a primary European exchange, and it will pursue such listing via a reverse listing on Euronext Amsterdam through MKB Nedsense N.V. (MKBN).
- Treasury aims to implement a robust capital market strategy, leveraging both equity and debt to systematically accumulate Bitcoin as its primary reserve asset while generating Bitcoin yield.
- Treasury will also act as a leading ambassador for Bitcoin, having entered into a definitive agreement to purchase Amsterdam Decentralized B.V., an affiliate of BTC Inc. and the company that hosts the Bitcoin Amsterdam conference.
- Treasury has also partnered with BTC Media LLC, an affiliate of BTC Inc., in support of the Bitcoin Amsterdam conference.
- Treasury was founded and is led by CEO Khing Oei and will establish a Strategic Advisory Board that includes Cameron and Tyler Winklevoss and David Bailey.
- MKBN's Management Board and Supervisory Board unanimously support the proposed Reverse Listing and recommend the MKBN shareholders to vote in favor of the resolutions at the EGM.
“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. 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. As a leading Bitcoin ambassador in Europe, Treasury reinforces its presence by acquiring Bitcoin Amsterdam and partnering with BTC Inc., creating a growth flywheel we believe will ignite the Digital Golden Age.”
Founder-led launch backed by industry-leading Advisory Board
Treasury was founded and is led by Khing Oei, a seasoned investor with extensive experience at Goldman Sachs, Fortress as well as managing his own hedge fund. He has deep roots across both traditional finance and digital assets markets.
To accelerate its mission, Treasury will establish a Strategic Advisory Board that includes leading Bitcoin pioneers, Cameron and Tyler Winklevoss, and David Bailey. Cameron and Tyler are the founders of Gemini, a leading cryptocurrency exchange in the U.S., and Winklevoss Capital, a venture firm investing in technology and digital assets. David is the CEO and Chair of the Board of KindlyMD, Inc. (NASDAQ: NAKA), a provider of integrated healthcare services and an institutional-grade Bitcoin treasury vehicle through its subsidiary Nakamoto Holdings, Inc.
Funding and Euronext Amsterdam listing
“The Netherlands is the birthplace of the joint stock company and the stock market, two of the world's greatest financial innovations. Treasury is continuing this tradition by bringing Bitcoin, the greatest financial innovation of this century, to investors in the Netherlands and Europe. We're proud to support their efforts.”
Treasury has strategically selected Euronext Amsterdam for its listing. With a history as a center of global trading dating back to 1602 and world-class financial infrastructure, Euronext provides a gateway to global capital markets. Through the intended reverse listing with MKBN, Treasury aims to become the first Bitcoin treasury company listed on a primary European exchange, establishing a launchpad for growth and supporting the integration of Bitcoin into Europe's mainstream financial ecosystem.
Treasury has raised an initial €126 million ($147 million) via a founder-led private funding round, led by Winklevoss Capital, Nakamoto, UTXO Management, Off The Chain Capital, M1 Capital, Mythos Venture Partners and more than 50 other investors. This funding provides the foundation to accelerate Treasury's capital markets strategy, leveraging both equity and debt instruments to systematically accumulate Bitcoin, generate Bitcoin yield and deploy innovative capital markets initiatives. Treasury has already leveraged this funding to accumulate more than 1,000 Bitcoin, strengthening its position as it executes on its Bitcoin strategy.
Strategic acquisition and partnerships
“This investment represents Nakamoto's first in the European capital markets. Treasury has one of the best leadership teams I have met among Bitcoin treasury companies. Its participation in one of the oldest and strongest public markets in Europe creates an exciting opportunity for Dutch investors and for Nakamoto shareholders alike.”
Treasury is committed to strengthening Europe's financial ecosystem by raising awareness and fostering Bitcoin adoption. As an initial step, Treasury has entered into a definitive agreement to acquire Amsterdam Decentralized B.V., an affiliate of BTC Inc. and the company that hosts Bitcoin Amsterdam, Europe's flagship Bitcoin conference. It has also entered into a strategic partnership with BTC Media LLC, the leading Bitcoin media and events platform and affiliate of BTC Inc. Together, Treasury and BTC Inc. and its affiliates will work to educate, engage, and connect investors, institutions, and builders with the transformative potential of Bitcoin.
Bitcoin Amsterdam has established itself as Europe's premier gathering for Bitcoiners, attracting more than 5,000 attendees annually and featuring over 150 thought leaders. By leveraging this platform, Treasury may gain unparalleled access to Europe's vibrant Bitcoin community and emerging adopters. The next edition of Bitcoin Amsterdam will take place on 13–14 November 2025.
Reverse listing transaction details
Treasury intends to list on Euronext Amsterdam through a reverse listing with MKBN. Upon completion of the transaction, Treasury is expected to trade under the ticker ‘TRSR’.
About Treasury
Treasury is an emerging euro-denominated Bitcoin treasury company. With Bitcoin as the digital gold benchmark, we are building a transparent, liquid, and institutional-grade structure for Bitcoin exposure in Europe. Our robust Bitcoin treasury approach focuses on systematic Bitcoin accumulation as our primary reserve asset and generating Bitcoin-yield by leveraging a robust capital markets strategy, including equity and debt. To access global capital markets, Treasury is pursuing a listing on Euronext Amsterdam (intended ticker: TRSR), one of Europe's leading exchanges via a reverse listing. Beyond its core Bitcoin accumulation strategy, Treasury also aims to act as an advocate for greater Bitcoin adoption and foster broader engagement across the Netherlands and Europe.
Legal disclaimer: This announcement is for information purposes only. The information contained in this announcement does not purport to be full or complete and is not intended to form the basis of any investment decision or any other decision in respect of the Reverse Listing. This announcement does not constitute, and should not be construed as, an offer to sell or a solicitation of any offer to purchase the ordinary shares of Treasury or MKBN and is not a recommendation to engage in any investment activities. This announcement does not constitute a prospectus. This press release may include statements that are, or may be deemed to be, forward-looking statements; forward-looking statements may and often do differ materially from actual results and speak only as of the date they are made.
