Treasury
Treasury B.V. is a Netherlands-based, euro-denominated Bitcoin treasury company that systematically accumulates Bitcoin as its primary reserve asset and seeks Bitcoin yield through capital-markets instruments, serving institutional and retail investors in Europe via a planned Euronext Amsterdam listing (ticker TRSR).
- Company typePrivate
- Founded2025
- HeadquartersAmsterdam, Netherlands
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Treasury does
Treasury B.V. is a Netherlands-incorporated Bitcoin treasury enterprise founded in Amsterdam in 2025 by Khing Oei, a former Goldman Sachs, Fortress, Bardin Hill, and Eyck Capital investor who also served as Senior Advisor Crypto at Genesis. The company's core product is a euro-denominated Bitcoin treasury strategy: it systematically accumulates Bitcoin as its primary reserve asset and seeks to generate Bitcoin yield by leveraging both equity and debt capital-markets instruments, providing a transparent, liquid, institutional-grade vehicle for Bitcoin exposure. It serves institutional investors (family offices, large financial institutions, professional investors) as the primary segment, with European retail investors as a secondary segment, addressing the lack of accessible, euro-denominated, regulated Bitcoin investment options in European capital markets relative to U.S. peers such as Strategy.
The business model is not traditional fee- or subscription-based; value is derived from Bitcoin accumulation, appreciation of holdings, and any yield generated via capital-markets instruments. Distribution is anchored to a planned Euronext Amsterdam listing (via reverse listing with MKB Nedsense N.V., intended ticker 'TRSR'), which would route access through standard European brokerage accounts. Treasury raised €126 million (~$147 million) in a 2025 seed round co-led by Winklevoss Capital and Nakamoto Holdings Inc. (subsidiary of KindlyMD, NASDAQ: NAKA), with UTXO Management, Off The Chain Capital, M1 Capital, Mythos Venture Partners, and 50+ additional investors; as of September 2025 the company reported holdings of 1,111 BTC.
Complementing the treasury core, Treasury has built a distinctive Bitcoin ecosystem stack: it acquired Amsterdam Decentralized B.V. (operator of the Bitcoin Amsterdam conference with 5,000+ attendees and 150+ speakers), partnered with BTC Inc./BTC Media for media and education, and in January 2026 launched Bitcoin Magazine Nederland. These assets are positioned as community-engagement and thought-leadership infrastructure rather than separate revenue lines, and they integrate an unusual media-and-events footprint with a public Bitcoin treasury vehicle for the European market.
Treasury firmographics
Firmographics- Name
- Treasury
- Legal name
- Treasury B.V.
- Website
- https://treasury-btc.com
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Treasury B.V. is a Netherlands-based, euro-denominated Bitcoin treasury company that systematically accumulates Bitcoin as its primary reserve asset and seeks Bitcoin yield through capital-markets instruments, serving institutional and retail investors in Europe via a planned Euronext Amsterdam listing (ticker TRSR).
- Ownership category
- akta.pro rank
Treasury industry classification
Industry- Product category
- Bitcoin Treasury Services
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)
Keywords
Where Treasury is headquartered
LocationHeadquarters
- HQ city
- Amsterdam
- HQ country
- Netherlands
- HQ region
- Europe
Offices1 record
Markets served
Treasury business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Bitcoin accumulation and appreciation: Treasury accumulates Bitcoin as its primary reserve asset, generating value through appreciation of its Bitcoin holdings.
- Bitcoin yield generation: Leveraging capital markets strategy including equity and debt instruments to generate Bitcoin yield.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Treasury product offering
Product offeringCore offering
Treasury operates as a euro-denominated Bitcoin treasury enterprise that systematically accumulates Bitcoin as its primary reserve asset and generates Bitcoin yield through capital markets instruments including equity and debt. The company provides institutional-grade, transparent, and liquid Bitcoin exposure to European investors via a planned Euronext Amsterdam listing under ticker TRSR. Its offering extends to Bitcoin ecosystem assets including the acquired Bitcoin Amsterdam conference and the launched Bitcoin Magazine Nederland.
Product overview
Treasury operates as a unified Bitcoin treasury platform offering a single core product: institutional-grade Bitcoin treasury services for European investors. The company provides systematic Bitcoin accumulation as its primary reserve asset combined with Bitcoin yield generation through capital markets strategies. As a complementary ecosystem, Treasury has expanded through strategic acquisitions including Bitcoin Amsterdam (Europe's flagship Bitcoin conference) and Bitcoin Magazine Nederland (Bitcoin education publication), which serve to raise awareness and foster Bitcoin adoption across Europe while building community engagement.
Differentiator
Problem solved
Functional benefit
Products and services
- Bitcoin Treasury Services Systematic Bitcoin accumulation as primary reserve asset combined with Bitcoin yield generation through capital markets strategy leveraging equity and debt instruments, providing institutional-grade Bitcoin exposure for European investors via Euronext Amsterdam.
- Bitcoin Amsterdam Conference Europe's premier Bitcoin conference attracting over 5,000 attendees annually with 150+ thought leaders; acquired by Treasury to serve as a platform for Bitcoin education, engagement, and community connection.
- Bitcoin Magazine Nederland Bitcoin education and adoption publication launched in partnership with BTC Inc., focused on educating and engaging investors, institutions, and builders across the Netherlands and Europe about Bitcoin's transformative potential.
Companies that use Treasury
Customer profileSegments2 records
Ideal customer profiles2 records
Treasury technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Treasury partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- BTC Inc.coreStrategic partnership with BTC Media LLC for Bitcoin media and events platform. Treasury acquired Amsterdam Decentralized B.V. (BTC Inc. affiliate) which hosts Bitcoin Amsterdam conference. Together working to educate, engage and connect investors with Bitcoin potential.
- MKB Nedsense N.V. (MKBN)coreDutch SME focused investment firm listed on Euronext Amsterdam. Treasury is pursuing a reverse listing through MKBN to become the first Bitcoin treasury company listed on a primary European exchange. MKBN will be renamed to 'Treasury N.V.'
- Amsterdam Decentralized B.V.coreAffiliate of BTC Inc. and host of Bitcoin Amsterdam conference. Acquired by Treasury to strengthen its presence in Europe's Bitcoin community.
- Value8 N.V.minorAs part of the reverse listing transaction, MKBN sells and transfers all its assets and liabilities to Value8, its largest shareholder, prior to the reverse listing completion.
Scale indicators4 records
Recent moves8 records
Expansion highlights6 records
Treasury competitors and assessment
Company assessmentEmerging players
- Hut 8 Corp: Hut 8 is a publicly listed digital asset infrastructure company that mines and holds Bitcoin on its balance sheet. It is comparable as a public corporate Bitcoin holder, though its hybrid infrastructure model differs from Treasury's pure-treasury approach.
- Marathon Digital Holdings: Marathon Digital Holdings is a large publicly listed Bitcoin miner that also holds significant BTC on its balance sheet. While its core business is mining rather than pure treasury, its corporate BTC accumulation strategy and public market listing make it a partial comparable.
- Riot Platforms: Riot Platforms is a publicly listed Bitcoin miner with material BTC holdings on its corporate balance sheet. It is comparable as a public corporate Bitcoin holder and treasury allocator, though mining operations distinguish it from Treasury's pure-treasury focus.
- Sato Innovation / Other European BTC treasury entrants: Multiple emerging European public vehicles and private companies are pursuing corporate Bitcoin treasury strategies tracked on BitcoinTreasuries.net. While individually smaller, collectively they represent the competitive set Treasury is racing to lead in Europe.
Direct peers
- Strategy (formerly MicroStrategy): Strategy is the original and largest publicly listed corporate Bitcoin treasury company, having pioneered the model since 2020. Treasury mirrors Strategy's strategy of raising equity and debt to accumulate Bitcoin, targeting the same institutional and retail investor base but denominated in euros and listed on Euronext.
- Bitcoin Group SE: Bitcoin Group SE is a European publicly listed company holding approximately 3,605 BTC, making it one of the largest European listed Bitcoin holders. It is directly comparable to Treasury as a European-listed corporate Bitcoin treasury, though it predates Treasury and operates with an older capital structure.
- Capital B (The Blockchain Group): Capital B is a European listed entity pursuing an aggressive Bitcoin treasury strategy with 2,925 BTC held. It is a direct peer in the European listed-Bitcoin-treasury category, competing for the same European institutional and family office investor demand Treasury targets.
Broad incumbents
- KindlyMD / Nakamoto Holdings: Nakamoto Holdings, a subsidiary of KindlyMD (NASDAQ: NAKA), is a US-listed Bitcoin treasury company that co-led Treasury's €126M funding round and shares David Bailey on Treasury's Strategic Advisory Board. It is a broader incumbent in the same treasury category and represents both an investor and strategic ally.
- Block (formerly Square): Block is a large public fintech company that has held Bitcoin on its corporate balance sheet since 2020 and offers Bitcoin-related products to merchants and consumers. It is a broader incumbent that demonstrates corporate Bitcoin treasury adoption at scale.
- Coinbase Global: Coinbase is the largest US-listed crypto exchange and custodian with significant institutional Bitcoin custody and ETF infrastructure. It serves as a broad incumbent that could provide custody and liquidity infrastructure for Treasury and its peers.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Treasury social profiles
Digital presenceTreasury financial estimates
Financial estimateRevenue estimate
Valuation estimate
Treasury leadership team
Management profileNumber of profiles
Profiles1 record
Treasury subsidiaries and ownership
Company hierarchySubsidiaries1 record
Treasury funding detail
Funding detailFunding overview
Funding rounds1 record
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Treasury M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Treasury
What does Treasury do?
Treasury operates as a euro-denominated Bitcoin treasury enterprise that systematically accumulates Bitcoin as its primary reserve asset and generates Bitcoin yield through capital markets instruments including equity and debt. The company provides institutional-grade, transparent, and liquid Bitcoin exposure to European investors via a planned Euronext Amsterdam listing under ticker TRSR. Its offering extends to Bitcoin ecosystem assets including the acquired Bitcoin Amsterdam conference and the launched Bitcoin Magazine Nederland.
Is Treasury a public or private company?
Treasury is a private company. It is classified as venture growth investor backed and is currently operating.
When was Treasury founded?
Treasury was founded in 2025. It employs 1 to 10 people.
Where is Treasury based?
Treasury is headquartered in Amsterdam, Netherlands, in the Europe region.
How does Treasury make money?
Two revenue lines are on record. Bitcoin accumulation and appreciation is the primary driver. The others are bitcoin yield generation.
Who are Treasury's main competitors?
Emerging players on record are Hut 8 Corp, Marathon Digital Holdings, Riot Platforms and Sato Innovation / Other European BTC treasury entrants. Direct peers are Strategy (formerly MicroStrategy), Bitcoin Group SE and Capital B (The Blockchain Group). Broad incumbents are KindlyMD / Nakamoto Holdings, Block (formerly Square) and Coinbase Global.
Does Treasury have an API?
No public API is recorded for Treasury.
What industry is Treasury in?
Treasury's product category is Bitcoin Treasury Services. Its primary akta.pro industry code is FSADAHAL, Treasury Management & Corporate Crypto Yield Programs. Its NAICS code is 525 and its SIC code is 6199.