- K33 raises $6.2 million to buy and hold Bitcoin as part of a new treasury strategy.
- Funding comes from interest-free convertible loans and a new share and warrant issue.
- The company aims to purchase up to 57 Bitcoin at current prices, following a growing trend among public firms.
- CEO Bull Jenssen describes Bitcoin as a key strategic asset for financial strength and new revenue opportunities.
- K33’s share price stayed mostly flat after the announcement, in contrast to market reactions seen with other firms.
Norwegian cryptocurrency brokerage K33 announced plans to purchase and hold Bitcoin after securing $6.2 million in new funding. The company intends to use these funds to launch a “Bitcoin Treasury Strategy,” aligning itself with a trend among public firms adding cryptocurrency to their balance sheets.
K33 raised the capital through interest-free convertible loans totaling $4.6 million and a new share and warrant issue that brought in another $1.5 million. The company stated that all proceeds will go toward acquiring Bitcoin, potentially up to 57 Bitcoin at current prices, according to its official announcement.
CEO Bull Jenssen said in a statement, “For K33, Bitcoin is not only a high-conviction asset — it’s also a strategic enabler. With a sizable BTC reserve, we will be able to strengthen our financial position while unlocking new revenue streams, product capabilities, and partnerships.” Jenssen also shared on X, “Why wait for the government to build a Bitcoin reserve when you can build your own? Initial financing is secured and we are ready to accelerate from here!”
The convertible loans mature in June 2028 and carry no interest. Investors who convert their warrants before March 2026 will receive additional free warrants at the same rate. If all warrants are exercised, K33 could raise up to $7.7 million for Bitcoin purchases.
In its recent Q1 interim report, K33 announced plans to work with other Bitcoin treasury firms in the Nordic region and to develop new services, such as loans backed by Bitcoin. Jenssen described the asset as the company’s “best-performing asset in the coming decade.”
Market response to the decision was muted. According to Google Finance, K33‘s share price closed down about 2% on the day of the news, while some firms have seen significant share price jumps following similar announcements.
In related developments, GameStop and Paris-based Blockchain Group saw their stocks fluctuate after unveiling Bitcoin buying plans, illustrating different investor responses to crypto treasury strategies.
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