Nikolas Sargeant
Norwegian cryptocurrency brokerage K33 has emerged as the latest company to adopt Bitcoin as a core treasury asset, successfully raising 60 million Swedish krona ($6.2 million) to fund its strategic entry into the expanding ecosystem of publicly-backed Bitcoin holders.
The Oslo-headquartered firm announced on May 28 that it obtained the capital through a sophisticated financing structure combining convertible loans with a new share-and-warrant issuance. The complete funding amount will be dedicated exclusively to Bitcoin purchases under K33's newly implemented Bitcoin Treasury Strategy.
This move positions K33 alongside a growing cohort of publicly-traded companies leveraging Bitcoin's appreciation potential while diversifying their corporate treasuries beyond traditional assets.
Strategic Financing Structure Targets Long-Term Bitcoin Accumulation Goals
The comprehensive financing package encompasses 45 million SEK ($4.6 million) in zero-interest convertible loans with maturity dates extending to June 2028, complemented by an additional 15 million SEK ($1.5 million) raised through equity instruments.
Investors converting their warrants before March 2026 will receive bonus warrants, potentially expanding K33's total raise to 75 million SEK ($7.7 million). This structure provides flexible capital while minimizing immediate dilution for existing shareholders.
CEO Bull Jenssen expressed strong conviction in Bitcoin's future performance, describing it as the "best-performing asset in the coming decade" while confirming the company's intention to "accumulate as many as possible." He framed the initiative proactively, stating: "Why wait for the government to build a Bitcoin reserve when you can build your own?"
At Bitcoin's current valuation around $108,000, K33 could acquire approximately 57 BTC with the raised capital. Beyond passive holding, the company plans to leverage its Bitcoin reserves for launching BTC-backed financial products, including lending services targeting the Nordic market specifically.
Corporate Bitcoin Adoption Accelerates Amid Market Rally
K33's treasury pivot reflects broader industry momentum as digital asset companies increasingly tap capital markets for large-scale Bitcoin acquisitions. This trend has intensified following Bitcoin's rally to a record $111,965 last week, representing over 50% growth since early April.
The surge has catalyzed numerous listings and mergers as firms compete to secure funding while investor appetite remains robust. Trump Media & Technology Group recently confirmed plans to raise $2.5 billion for cryptocurrency investments, following MicroStrategy's pioneering corporate Bitcoin strategy.
French crypto holding company Blockchain Group exemplifies this trend, announcing plans to purchase an additional $72 million worth of Bitcoin following a successful €63.3 million bond sale. Blockchain Group's stock soared over 200% in a single day following its November 2024 Bitcoin pivot announcement.
However, K33's stock demonstrated a more conservative response, closing down nearly 2% on the announcement day, suggesting market observers await concrete execution of the Bitcoin strategy before rewarding the initiative with premium valuations.
