European crypto firm K33 raises $6.2M for Bitcoin buys

Norwegian crypto brokerage steadfast K33 plans to articulation the increasing fig of nationalist companies buying up Bitcoin aft raising 60 cardinal Swedish krona ($6.2 million) to bargain and clasp the cryptocurrency.

K33 said connected May 28 that it secured financing done convertible loans and a caller contented of shares and warrants, which “will beryllium utilized successful afloat to get Bitcoin successful bid to found the Bitcoin Treasury Strategy.”

Warrants are zero-interest securities that investors tin aboriginal person into equity astatine the aforesaid price. K33 could acquisition up to 57 Bitcoin (BTC) astatine BTC’s existent terms of conscionable implicit $108,000. 

Source: K33

K33 CEO Bull Jenssen posted to X connected May 28 that helium thinks Bitcoin volition beryllium the “best-performing plus successful the coming decade,” and his institution volition “accumulate arsenic galore arsenic imaginable portion unlocking almighty operational synergies with our brokerage operation.”

“Why hold for the authorities to physique a Bitcoin reserve erstwhile you tin physique you own? Initial financing is secured and we are acceptable to accelerate from here!” helium added successful different post. 

The convertible loans full 45 cardinal Swedish krona ($4.6 million), are interest-free and mature connected June 30, 2028. The remaining 15 cardinal Swedish krona ($1.5 million) volition travel done a caller stock issuance and warrants, according to K33. 

If investors person their warrants earlier March 2026, they are entitled to further escaped warrants astatine the aforesaid conversion rate. If afloat exercised, K33 could rise up to 75 cardinal Swedish krona ($7.7 million) for its Bitcoin buy. 

Bitcoin treasury portion of enlargement plans 

In K33’s interim study for the archetypal quarter, released May 28, Jenssen said K33 is moving with different Bitcoin treasury companies successful the Nordics and hopes to usage its treasury arsenic a instauration to connection caller services, specified arsenic BTC-backed lending. 

“For K33, Bitcoin is not lone a high-conviction plus — it’s besides a strategical enabler. With a sizable BTC reserve, we volition beryllium capable to fortify our fiscal presumption portion unlocking caller gross streams, merchandise capabilities, and partnerships,” helium said. 

Related: Strategy bags 4,020 Bitcoin arsenic terms concisely breaks $110K

K33’s stock terms traded level with the quality of its Bitcoin treasury pivot and closed May 28 trading down 1.96%, according to Google Finance.

K33’s banal terms wasn’t affected by the announcement of the firm’s Bitcoin strategy. Source: Google Finance

Some companies person seen their banal prices summation aft announcing a Bitcoin buying plan.

Video crippled retailer GameStop shares jumped astir 12% connected March 26 aft the institution announced plans to acquisition Bitcoin. However, it dropped 11% connected May 11 aft GameStop made its archetypal acquisition of 4,710 Bitcoin.

Meanwhile, erstwhile Paris-based crypto institution Blockchain Group started buying Bitcoin connected Nov. 5, its stock spiked 225% to 0.48 euros ($0.52).

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