Swedish health technology company H100 Group has been approved for trading on the Frankfurt Stock Exchange’s Open Market segment, commencing on July 22 under ticker symbol GS9.
The firm rapidly accumulated 510.28 Bitcoin through aggressive purchases in July, totaling over 309 coins.
Rapid Bitcoin Accumulation Strategy Pays Off
The cross-listing follows H100’s transformation from a health technology company into Sweden’s first publicly listed Bitcoin treasury firm, which has accumulated Bitcoin worth approximately $60 million through strategic convertible loan financing.
The company purchased 140.25 Bitcoin on July 21 at an average price of SEK 1,169,277, bringing total holdings to 510.28 Bitcoin.
H100’s rapid accumulation strategy included four major purchases in July alone: 47.33 Bitcoin on July 2, 46.93 Bitcoin on July 9, 75.53 Bitcoin on July 16, and 140.25 Bitcoin on July 21.
The company’s Bitcoin treasury now positions it among the top 50 corporate holders globally, ranking 44th by holdings.
Source: Bitcoin TreasuriesThe Frankfurt listing provides European investors direct access to Bitcoin exposure through H100’s treasury strategy, as the company trades in euros without issuing new shares.
The move coincides with growing Nordic corporate adoption, including recent purchases from Fragbite Group and Refine Group.
Additionally, Blockstream Capital founder Adam Back funded a $15 million convertible bond for H100 in June, supporting the company’s plans to accumulate Bitcoin.
Nordic Corporate Bitcoin Treasury Movement Accelerates
H100 Group became Sweden’s first public Bitcoin treasury company in May 2025 after acquiring 4.39 Bitcoin worth $475,000, marking the beginning of its long-term digital asset strategy.
CEO Sander Andersen described the approach as “structural alignment with the future of money” rather than short-term speculation.
The company’s rapid July expansion utilized convertible loan proceeds, enabling flexible Bitcoin accumulation without immediate equity dilution.
H100’s strategy centers on building and holding Bitcoin as a savings technology and a resilient long-term asset, contrasting with trading-focused approaches.
Swedish lawmakers have encouraged the government to explore national Bitcoin reserves, with Parliament members Dennis Dioukarev and Rickard Nordin proposing direct policy accumulation or budget-neutral methods, such as retaining seized cryptocurrency assets.
Finance Minister Elisabeth Svantesson received formal letters advocating for the integration of Bitcoin into Sweden’s national financial strategy.
Still within Sweden, Fragbite Group recently launched its Bitcoin treasury with 4.3 Bitcoin purchases at an average price of $112,958, raising an additional 6 million Swedish krona through interest-free convertible loans.
Similarly, Refine Group completed a $1 million Bitcoin treasury launch through the issuance of 10 million Swedish krona shares, establishing Digital Assets as a business area alongside its traditional operations.
Wall Street Partnership Indicates Institutional Validation
Adam Back’s $15 million convertible bond investment in H100 connects the Swedish company to broader institutional Bitcoin adoption initiatives.
Back, a Bitcoin industry pioneer, advocates for “hyperbitcoinization” through institutional accumulation and has personally funded multiple Bitcoin-focused companies.
Cantor Fitzgerald and Blockstream Capital reportedly pursue a $4 billion SPAC merger involving direct Bitcoin transfers exceeding $3 billion.
Brandon Lutnick leads late-stage negotiations with Back for Cantor Equity Partners 1 to issue shares in exchange for 30,000 Bitcoin, creating BSTR Holdings.
The proposed merger would combine with plans to raise $800 million for additional Bitcoin purchases, potentially accumulating nearly $10 billion in Bitcoin this year alongside Twenty One Capital.
Cantor’s growing institutional interest includes a previous $3.6 billion Bitcoin acquisition involving SoftBank and Tether.
Multiple crypto investors are pursuing SPAC strategies for public Bitcoin exposure, including Trump adviser David Bailey’s Nakamoto Holdings, which has raised $51.5 million for the KindlyMD merger.
Similarly, Anthony Pompliano announced a $1 billion merger between ProCap Financial and Columbus Circle Capital Corp SPAC.
Looking forward, H100’s Frankfurt cross-listing provides European institutional access to Bitcoin treasury exposure as regulatory clarity improves across Nordic markets.
Source: Bitcoin TreasuriesCorporate Bitcoin adoption continues to expand globally, with over 274 companies holding 3.57 million Bitcoin on their balance sheets. Notably, MicroStrategy, the pioneer of Bitcoin Treasury, now holds 607,770 Bitcoin, worth approximately $43 billion.
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