Norwegian Block Exchange (NBX) shares surged over 138% in a single day after the Oslo-based crypto exchange revealed it had begun adding Bitcoin to its treasury.
Key Takeaways:
NBX stock surged 138% after announcing its first Bitcoin treasury purchase. The exchange plans to use BTC reserves to back a Cardano-based stablecoin and expand crypto lending. Bitcoin is consolidating above $105K, with a potential breakout target near $108K if momentum builds.On June 2, NBX announced the purchase of 6 Bitcoin (BTC), valued at roughly $633,700 at current prices, with plans to increase its holdings to 10 BTC by the end of June.
The company said it is also in discussions to raise additional capital to expand its Bitcoin position further.
NBX Shares Soar 138.5% After Bitcoin Treasury Move
Following the news, NBX shares jumped 138.5%, closing at €0.033 ($0.038), according to Google Finance.
Though still far below its all-time high of €0.93 ($1.06), reached in January 2022, the stock’s sharp rally reflects renewed investor appetite for Bitcoin-aligned firms.
NBX said its Bitcoin reserves will be used as collateral to issue USDM, a stablecoin on the Cardano blockchain, while generating yield within the Cardano ecosystem.
The company added that Bitcoin is becoming “an important part of the global financial infrastructure” and that it aims to leverage the holdings to enhance operational efficiency and attract institutional capital.
The firm also plans to offer Bitcoin-backed loans, as part of a broader strategy to establish itself as a leading digital asset bank.
NBX is not the first Norwegian company to embrace Bitcoin. In 2021, Norwegian industrial giant Aker ASA launched Seetee, a Bitcoin-focused subsidiary.
Aker holds 1,170 BTC, purchased at an average cost of $50,200, now valued at around $123 million, according to Bitcointreasuries.net.
Elsewhere in Norway, crypto brokerage K33 recently raised 60 million Swedish krona ($6.2 million) to acquire Bitcoin for its own balance sheet.
Meanwhile, Norges Bank, Norway’s $1.7 trillion sovereign wealth fund, indirectly holds 3,821 BTC through its equity investments.
Globally, companies adding Bitcoin to their treasuries have often seen strong stock market reactions.
Paris-based Blockchain Group’s stock soared 225% after it began accumulating Bitcoin in November, while Indonesian fintech DigiAsia Corp shares climbed 91% after unveiling a $100 million Bitcoin buying plan.
Overall, corporate Bitcoin treasuries now hold more than 3 million BTC, valued at over $342 billion, according to Bitbo data.
BTC Consolidates Above $105K as Bulls Eye Breakout
Bitcoin is trading steady around $105,300, showing resilience above key support levels after a volatile week.
On the 2-hour chart, BTC remains range-bound between $103,800 and $106,300, with Bollinger Bands tightening.
RSI at 52.94 suggests a neutral stance, while the MACD is turning slightly bullish, hinting at potential upside momentum.
The 30-minute chart paints a similar picture. BTC continues to consolidate between $104,600 and $106,200, with RSI hovering around 51.11 — signaling indecision.
MACD remains flat, indicating that neither buyers nor sellers are in control in the short term.
Zooming into the 1-minute chart, BTC has recovered from early session lows, climbing steadily back toward $105,360.
RSI is currently elevated at 60.29, suggesting slight bullish pressure, while MACD has crossed into positive territory, confirming short-term upward momentum.
Overall, BTC’s near-term outlook remains constructive as long as it holds above the $104,600–$105,000 range.
A break above $106,300 could open the door toward $108,000. On the downside, losing $104,600 could trigger a retest of $103,000 support.
The post Norway’s NBX Stock Rockets 138% After Surprise Bitcoin Treasury Buy — What’s Next for the BTC Price? appeared first on Cryptonews.
