Norway’s K33 Raises $6.2M to Join Wave of Public Bitcoin Buyers

Norwegian crypto brokerage K33 is the latest firm to embrace Bitcoin as a treasury asset, raising 60 million Swedish krona ($6.2 million) to fund its entry into the growing circle of publicly-backed BTC holders.

The Oslo-based company announced on May 28 that it secured the funding through a combination of convertible loans and a new share-and-warrant issuance.

The entire amount will be used to purchase Bitcoin as part of K33’s newly launched Bitcoin Treasury Strategy.

K33 Secures $6.2M in Zero-Interest Loans and Equity to Fund Bitcoin Push

The financing includes 45 million SEK ($4.6 million) in zero-interest convertible loans maturing in June 2028, and an additional 15 million SEK ($1.5 million) raised through equity instruments.

Investors who convert their warrants before March 2026 will receive bonus warrants, potentially increasing K33’s raise to 75 million SEK ($7.7 million).

CEO Bull Jenssen, writing on X, described Bitcoin as the “best-performing asset in the coming decade,” and confirmed that the company intends to “accumulate as many as possible.”

He positioned the move as a proactive step, saying: “Why wait for the government to build a Bitcoin reserve when you can build your own?”

At Bitcoin’s current price of around $108,000, the firm could buy approximately 57 BTC.

Beyond holding, K33 plans to leverage its Bitcoin reserve to launch BTC-backed financial products, including lending services, particularly within the Nordic market.

In its Q1 interim report released the same day, Jenssen emphasized the strategic value of Bitcoin beyond its potential returns.

“With a sizable BTC reserve, we will be able to strengthen our financial position while unlocking new revenue streams, product capabilities, and partnerships,” he wrote.

K33 joins a growing list of firms turning to Bitcoin as a treasury asset. GameStop and France’s Blockchain Group are recent examples, the latter saw its stock skyrocket over 200% in a single day following its BTC pivot in November 2024.

However, K33’s own stock showed a more muted response, closing down nearly 2% on the day of the announcement.

Market watchers will now be observing whether the Bitcoin bet translates into longer-term gains, both for the firm’s balance sheet and its share price.

Crypto Firms Tap Capital Markets to Fuel Bitcoin Buying Spree

Digital asset companies are flooding capital markets to raise funds for large-scale Bitcoin acquisitions, spurred by the cryptocurrency’s rally to a record $111,965 last week.

The surge, up more than 50% from early April, has ignited a wave of listings and mergers as firms race to secure funding while investor appetite remains strong.

This week, Trump Media & Technology Group confirmed plans to raise $2.5 billion to buy crypto, joining a growing list of firms mimicking MicroStrategy’s blueprint.

Just recently, French crypto holding company Blockchain Group announced plans to purchase an additional $72 million worth of Bitcoin following a successful €63.3 million bond sale, as it expands its aggressive treasury strategy.

The post Norway’s K33 Raises $6.2M to Join Wave of Public Bitcoin Buyers appeared first on Cryptonews.