Norwegian encryption company K33 raises $6.2 million, joining the BTC Coin Hoarding army.

2025-05-29 08:00:21

Gate News bot news, Norwegian crypto asset brokerage K33 announced funding of 60 million Swedish Krona (approximately 6.2 million USD) as part of K33’s newly launched Bitcoin Treasury Strategy, and all of this funding will be used to purchase Bitcoin.

The financing includes a zero-interest convertible loan of 45 million Swedish Krona (4.6 million USD) maturing in June 2028, as well as 15 million Swedish Krona (1.5 million USD) raised through equity instruments.

Investors who convert warrants before March 2026 will receive bonus warrants, which could increase the financing amount for K33 to 75 million Swedish Krona (7.7 million USD).

CEO Bull Jenssen wrote on X that Bitcoin is “the best-performing asset of the next decade” and confirmed that the company plans to “increase its holdings as much as possible.”

He positioned it as a positive initiative and said: “Since I can build a Bitcoin reserve myself, why wait for the government?”

At the current price of Bitcoin at about $108,000, the company can purchase approximately 57 Bitcoins.

In addition to holding Bitcoin, K33 also plans to leverage its Bitcoin reserves to launch Bitcoin-backed financial products, including lending services, particularly in the Nordic market.

Source: Cryptonews

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