- Norwegian crypto firm K33 secured 60 million SEK (about $6.2M) through loans and new shares to start a Bitcoin investment strategy.
- The funds will be used exclusively to purchase Bitcoin, aiming to make it a core part of K33’s services like BTC-backed lending.
- K33 follows other companies, like Japan’s Metaplanet, in adding Bitcoin to their balance sheets, showing growing institutional interest in crypto.
As per an X Post by the company, Norwegian cryptocurrency brokerage K33 has raised 60 million Swedish krona, which works out to approximately $6.2 million to initiate a Bitcoin focused investment strategy.
The company said the funds were secured through a combination of convertible loans and a new issuance of shares issued exclusively to purchase Bitcoin as part of their new “Bitcoin Treasury Strategy.”
At current market prices as of this being written, K33 could purchase up to 57 BTC.
K33 CEO Bull Jenssen said the initiative aims to position Bitcoin at the core of the company’s future services, including BTC-backed lending.
“We believe Bitcoin will be an instrumental part of the global financial system”, Jenssen wrote on X.
“The company will initiate a Bitcoin accumulation strategy aimed at strengthening its financial position and unlocking new product and partnership opportunities” a statement issued by the company said.
The financing structure includes 45 million SEK ($4.6 million) in interest-free convertible loans maturing in June 2028.
The remaining 15 million SEK ($1.5 million) comes from new share issuance and attached warrants.
If all warrants are converted before March 2026, investors will receive additional free warrants at the same rate, potentially bringing the total raised to 75 million SEK ($7.7 million).
K33 now joins a growing list of private and public companies adding Bitcoin to their balance sheets, signaling continued institutional interest in the cryptocurrency as a treasury asset.
Yesterday, Japanese investment firm Metaplanet issued a statement to say they would be issuing a $50 million private placement of zero-interest bonds to be able to buy Bitcoin.
