Amdax’s subsidiary, AMBTS, has secured a substantial $23.4 million funding round to implement a strategic Bitcoin acquisition plan. This initiative signifies the growing interest of institutional investors in Bitcoin and its potential as a corporate reserve asset. The funds will allow AMBTS to amass up to 210,000 Bitcoin, aiming for a publicly listed entity that exclusively holds Bitcoin. This move aligns with Amdax’s ambitions to become a leading provider of crypto asset management and custody services. CEO Lucas Wensing believes corporations are key to expanding Bitcoin adoption as a reserve asset. The funding announcement follows the recent trend of institutional players like companies and governments holding a significant portion of Bitcoin, potentially influencing market sentiment and investment patterns.