Norwegian crypto brokerage firm K33 has raised 60 million Swedish krona ($6.2 million) to acquire Bitcoin as part of its newly announced Bitcoin Treasury Strategy, the firm revealed on May 28.
K33 joins a growing number of European firms embracing Bitcoin not just as an investment, but as a strategic reserve that will power future products like BTC-backed lending.
Fundraising Breakdown
K33 secured the $6.2 million through:
- Convertible loans: 45M SEK (~$4.6M), interest-free, maturing June 30, 2028
- New share and warrant issue: 15M SEK (~$1.5M)
- Potential upside: If warrants are fully exercised, K33 could raise up to 75M SEK (~$7.7M)
At the current Bitcoin price of ~$108,000, K33 could purchase up to 57 BTC.
CEO Vision: Bitcoin as “Best-Performing Asset of the Decade”
K33 CEO Bull Jenssen posted to X (formerly Twitter):
“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!”
Jenssen called Bitcoin a “high-conviction asset” and said K33 will use its BTC treasury to launch new revenue-generating services, including Bitcoin-backed lending and partnerships with other Nordic treasury firms.
BTC Treasury Strategy as Expansion Tool
In its Q1 interim report, K33 said its Bitcoin reserve would:
- Strengthen the company’s financial position
- Unlock new product capabilities
- Enable strategic collaborations and partnerships
The firm sees Bitcoin not just as a hedge or speculative asset, but as a “strategic enabler” for long-term growth.
Market Reaction & Industry Context
K33’s stock closed 1.96% down on May 28 despite the announcement. However, other companies have seen stock surges after Bitcoin-buying news:
- GameStop surged 12% after announcing BTC plans in March
- Blockchain Group jumped 225% in November after BTC purchases
These mixed reactions highlight market volatility but also rising investor interest in corporate BTC adoption.
Conclusion
K33’s move reflects growing European institutional confidence in Bitcoin as a reserve asset and strategic tool. As more firms adopt similar strategies, the trend could accelerate the mainstream financialization of Bitcoin in Europe.