Norwegian broker K33 has set his sights on adding bitcoin to the balance sheet. It raised 60 million Swedish Krona (about $6.2 million) to buy and hold cryptocurrency.
According to the report, cash comes from convertible loans and a mix of new shares and guaranteed issues.
New funding round raises 60 million kroner
According to a statement from K33 on May 28, a total of 45 million Crona comes from interest-free convertible loans. These loans are free of interest and maturity on June 30, 2028.
The remaining 15 million Crona will be raised with a new share sale and a free arrest warrant. If all warrants and conversions occur, K33 could pull up to 75 million kroners.
Bitcoin Purchase Plan
According to the report, the new funding will be “all” to establish what K33 calls Bitcoin Treasury strategy. Today, each coin costs just over $108,000 and the company can buy about 57 BTC. This gives them a lot of BTC to work with them when they launch new services.
Bitcoin will be the best performing asset in the next decade, and my goal for K33 is to accumulate as much as possible while unlocking strong operational synergy through our brokerage operations.
– torbjørn (@torbjrnbulljens) May 28, 2025
Management sees long-term gains
CEO Bull Jenssen posted on X that he hopes Bitcoin will be “the best performing asset in the next decade.” He wrote that K33 will “unlock powerful operational synergy in our brokerage operations while accumulating as much as possible.”
He also asked:
“Why wait for the government to build crypto reserves when you can build your own?”
Risks and rewards
K33’s share price has gained little, and actually fell 1.90% on May 28. This shows that some investors are concerned about the wild swing of Bitcoin. As we all know, BTC can jump or fall 10% or more in one day.
GameStop said it would buy bitcoin, its stock rose about 10%, and it could slide down 10% on its first purchase of 4,710 BTC. Shares of the Paris-based blockchain group once soared 220% when they started buying Bitcoin.
Building Bitcoin reserves will also open the door. Jenssen told investors that a large amount of BTC holdings could help K33 launch loans backed by Bitcoin and increase its brokerage division.
They have new cash on hand and plan to work with other Nordic companies. He said their Treasury will be the basis for new revenue and product creativity.
Featured images from Unsplash, charts for TradingView
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