Norwegian crypto brokerage K33 has announced the successful raising of 60 million Swedish krona (approximately $6.2 million) to establish a Bitcoin treasury. The funds, secured through a mix of interest-free convertible loans and a new issuance of shares and warrants, are earmarked entirely for the acquisition of Bitcoin, positioning K33 among a select group of European firms integrating cryptocurrency into their financial strategies.
At current market rates, this capital could enable K33 to purchase up to 57 Bitcoins, each valued at just over $108,000. CEO Bull Jenssen expressed a strong belief in Bitcoin’s potential, stating that the company aims to “accumulate as many as possible” while leveraging these holdings to enhance their brokerage operations. He further emphasized the strategic intent behind this move, suggesting that a robust Bitcoin reserve could serve as a foundation for offering new services, such as BTC-backed lending, thereby unlocking additional revenue streams and partnerships.
📢 PRESS RELEASE: K33 secures financing of SEK 60 million to buy bitcoin and launch its Bitcoin Treasury Strategy.
Read the press release here: https://t.co/zRPFCWag5P pic.twitter.com/qAha0lpKnt
— K33 (@K33HQ) May 28, 2025
The financing structure comprises 45 million SEK in convertible loans maturing in June 2028, as well as 15 million SEK through share issuance and warrants. Investors converting their warrants before March 2026 are eligible to extra free warrants, so perhaps raising the total raised to 75 million SEK ($7.7 million).
Despite this significant strategic shift, K33’s stock experienced a slight decline of 1.96%, according to Google Finance. indicating a cautious market response. This contrasts with other companies like GameStop and Blockchain Group, which saw notable stock price increases after similar Bitcoin acquisition announcements.
K33’s initiative underscores a broader trend of traditional financial institutions embracing cryptocurrency, not merely as an investment asset but as a strategic tool for business expansion and innovation.
Get the weekly commit
New blockchain deep dives every week.
