- H100 Group AB stock increased 37% after announcing its first Bitcoin purchase.
- H100 bought 4.39 Bitcoin for about $490,830, marking the start of its new investment strategy.
- Jiuzi Holdings plans to acquire 1,000 Bitcoin over the next year through stock sales and cash purchases.
- Jiuzi Holdings shares rose 7.3% on the day of the announcement.
- More public companies are adding Bitcoin to their balance sheets, with 109 firms now holding the cryptocurrency.
Shares in H100 Group AB, a Swedish health technology company, rose sharply on May 22 as the company reported its first-ever Bitcoin investment. The company revealed that this move is part of a broader strategy shift toward digital assets.
H100 announced it had purchased 4.39 Bitcoin at an average price of about $111,785 each, using roughly $490,830 for the transaction. Following the announcement, the company’s shares ended the day 37% higher at $0.13, according to Bloomberg data. The purchase was confirmed in an official statement.
Sander Andersen, CEO of H100, stated on social media, “the values of individual sovereignty highly present in the Bitcoin community aligns well with, and will appeal to, the customers and communities we are building the H100 platform for.” He described this purchase as “Phase 1” for the company, suggesting that more Bitcoin acquisitions could follow. H100 develops tools for people who prefer proactive health care, rather than waiting for illness to occur.
Another company, Jiuzi Holdings, which operates in China’s electric vehicle market, also announced on May 22 that it would purchase 1,000 Bitcoin over the next year. The company said it would use a mix of stock issuance and cash to fund these acquisitions, according to a company statement. Jiuzi Holdings CEO Tao Li said he believes the move could strengthen the firm’s assets and risk resistance, despite Bitcoin’s known price volatility.
When Jiuzi Holdings announced its Bitcoin strategy, its shares rose 7.3% to $3.09, based on Google Finance data. According to BitcoinTreasuries.NET, a growing number of companies now list Bitcoin as an asset, with 109 public companies holding the cryptocurrency.
Both announcements come as Bitcoin continues to reach new price highs, recently surpassing $110,000 for the first time.
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