Norway-based K33 agency has raised $5.6 million from insiders to accumulate Bitcoin.
Norwegian digital asset firm K33 grew to become the newest agency to hitch the Bitcoin (BTC) practice. On Wednesday, Could 28, the corporate introduced it secured 60 million Swedish krona, price about $5.6 million, for its Bitcoin treasury.
To fund the acquisition, the Oslo-headquartered firm, which is listed on Nasdaq First North in Stockholm, issued 150.56 million new shares price 15 million SEK. K33 additionally issued 301.12 million free warrants valued at 45 million SEK. In line with the corporate, the capital comes from insiders and aligned buyers, together with Klein Group and Modiola AS.
Free warrants are zero-interest devices that buyers can later convert into fairness on the similar value. If transformed earlier than March 2026, buyers are entitled to further free warrants on the similar conversion price. If absolutely exercised, the warrants would permit K33 to boost an extra 75 million SEK, roughly $7.1 million.
Why is K33 shopping for Bitcoin?
K33 CEO Torbjørn Bull Jenssen stated the transfer aligns with the corporate’s broader strategic imaginative and prescient and underscores its dedication to Bitcoin as each a monetary asset and institutional providing.
“We strongly believe that Bitcoin will become an instrumental part of the global financial system. I am excited to now start the process of building a strong balance sheet backed by Bitcoin, not only as a strong conviction investment but, more importantly, as a strategic enabler for K33 as a leading cryptocurrency broker,” Torbjørn Bull Jenssen, K33.
K33 is a digital asset funding and brokerage agency that serves institutional purchasers throughout Europe. Its choices embody buying and selling and brokerage companies, crypto custody, and business analysis.
The agency is only one of many corporations that not too long ago began investing in Bitcoin. On the identical day of K33’s announcement, Japanese firm Metaplanet issued $50 million in bonds to broaden its Bitcoin steadiness sheet.
