Norwegian crypto brokerage firm K33 is set to join a growing trend among publicly listed companies by allocating significant funding to acquire and hold Bitcoin (BTC). After raising 60 million Swedish krona ($6.2 million), the company will use the proceeds wholly for this purpose.

On May 28, K33 announced financing secured via convertible loans and new equity issuance, earmarked exclusively for the establishment of a Bitcoin Treasury Strategy. Under the deal, which could potentially raise up to 75 million krona ($7.7 million) in its entirety, warrants—interest-free securities convertible into equity—play a key component.

The initial convertible loan component totals 45 million krona, maturing without interest on June 30, 2028. An additional 15 million krona follows from share sales and warrants. If warrants are exercised before March 2026, investors receive additional free warrants. Vesting of all elements could yield K33 up to nearly BST 1 BTC, valued north of $110 million at prevailing rates.

CEO Bull Jenssen expressed strong confidence in Bitcoin’s long-term prospects in supporting posts: “Why wait for the government to build a Bitcoin reserve when you can build your own?” He also indicated that the Bitcoin Treasury would complement the firm’s brokerage operations.

K33 cites establishing a Bitcoin reserve as a potential strategic enabler, facilitating new revenue streams like Bitcoin-backed lending through potential partnerships with other Bitcoin Treasury companies in the Nordics region.

The financing revelation did not impact K33’s stock price or trading volume during May 28 bidding activity.

The move follows similar strategies adopted by firms like MicroStrategy and other Bitcoin Treasury companies. While establishing a Bitcoin reserve has driven stock gains for some firms, K33’s own stock remains flat or traded marginally less favorably amidst broader market sentiment challenges.

Examples of other Bitcoin Treasury companies include:

  • MicroStrategy
  • Others operating within ‘Bitcoin Treasury’ structures fostering similar reserve strategies.

This trend highlights evolving institutional perspectives on cryptocurrency asset allocation within capable corporate frameworks, albeit amidst persistently challenging macro market conditions.