Nakamoto, Winklevoss Capital pledge $147 million to new entity looking to become Europe's leading Bitcoin treasury

As companies in the U.S. and Asia accumulate bitcoin, a Dutch firm has secured financing to build what it hopes will become Europe’s largest corporate BTC stack.

On Wednesday, Treasury B.V. announced that it raised 126 million euro ($147 million) in a private funding round led by Winklevoss Capital and David Bailey’s Nakamoto, a KindlyMD (ticker NAKA) subsidiary, as part of a plan to rank as Europe’s biggest corporate bitcoin holder.

Treasury B.V., headed by CEO Khing Oei, positions itself as a euro-denominated bitcoin balance sheet company that will use both equity and debt to “systematically accumulate” BTC as its primary reserve asset and pursue bitcoin yield strategies. According to an announcement on Wednesday, it has already accumulated more than $111 million worth of BTC at current prices.

The company intends to list on Euronext Amsterdam via a reverse takeover of MKB Nedsense N.V. It will also acquire the Bitcoin Amsterdam conference to bolster outreach and form a strategic advisory board involving Gemini co-founders Cameron and Tyler Winklevoss as well as Bitcoin Magazine's David Bailey.

Treasury B.V. said proceeds from the fundraise, which saw participation from UTXO Management, Off The Chain Capital, M1 Capital, and others, were used to acquire more than 1,000 BTC ahead of the listing plan.

“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 Oei. Treasury expects to trade under the ticker “TRSR” once the reverse listing with MKBN is completed.

The launch adds to a growing corporate balance-sheet trend, following the emergence of U.S.-style “bitcoin treasury” models inspired by Strategy. Bitcoin treasuries managed by public companies have amassed over 4% of BTC's 21 million supply, about 780,980 bitcoins worth over $87 billion, The Block's data dashboard shows. Michael Saylor's Strategy leads the group with over 636,505 BTC after a fresh 4,048 bitcoin purchase for $449.3 million last week.

KindlyMD also features among major BTC treasury plays after the healthcare firm's merger with Bailey’s Nakamoto Holdings. The firm bought 5,744 for about $679 million in August to begin Nakamoto's treasury buildout.