Norwegian cryptocurrency brokerage firm K33 has announced a major step forward in its digital asset strategy, raising 60 million Swedish krona ($6.2 million) to begin building a Bitcoin treasury. The firm, led by CEO Bull Jenssen, plans to acquire and hold Bitcoin as a core part of its corporate strategy, with the eventual goal of leveraging its BTC holdings to support new services such as Bitcoin-backed lending.
The funds were raised through a combination of convertible loans and new share issuances with warrants, allowing the company to potentially accumulate up to 57 BTC at current market prices, which hover around $108,000 per Bitcoin. The move aligns K33 with a growing number of companies globally that are actively buying Bitcoin to strengthen their balance sheets and drive innovation.
Zero-Interest Loans and Equity Warrants Fuel BTC Buying
K33’s financing structure includes 45 million SEK ($4.6 million) in interest-free convertible loans, which mature on 30 June 2028, and an additional 15 million SEK ($1.5 million) raised via new shares and warrants. Notably, these warrants allow investors to convert them into equity at a fixed price, and if exercised by March 2026, they provide bonus warrants at the same rate.
Source: K33
In total, if fully executed, K33 could secure up to 75 million SEK ($7.7 million), substantially increasing its ability to purchase more Bitcoin. Jenssen underscored the strategic importance of this initiative, stating on social platform X (formerly Twitter), “Why wait for the government to build a Bitcoin reserve when you can build your own?”
Bitcoin Treasury as a Launchpad for Expansion
According to K33’s Q1 interim report released on 28 May, the firm views its Bitcoin treasury not just as an investment, but as a strategic foundation for long-term growth. Jenssen revealed that K33 is actively collaborating with other Nordic Bitcoin treasury firms and sees BTC as both a high-conviction asset and a catalyst for new product lines.
“With a sizable BTC reserve, we will be able to strengthen our financial position while unlocking new revenue streams, product capabilities, and partnerships,” said Jenssen. One of the first services expected to emerge is BTC-backed lending, enabling clients to borrow against their Bitcoin holdings.
This strategy mirrors broader trends in the digital finance sector, where firms use crypto treasuries to diversify income and improve operational resilience.
Market Reactions to Bitcoin Buying Vary
K33’s announcement comes amid mixed market reactions to similar moves by other companies. For example, GameStop’s share price jumped 12% after revealing plans to buy Bitcoin on 26 March, only to drop 11% on 11 May after executing its initial purchase of 4,710 BTC.
K33’s stock price wasn’t affected by the announcement of the firm’s Bitcoin strategy. Source: Google Finance
Meanwhile, Blockchain Group, a Paris-based crypto firm, saw its stock soar 225% on 5 November following its own Bitcoin acquisition announcement. Despite the ambitious nature of K33’s Bitcoin strategy, the company’s share price remained relatively unchanged, closing 1.96% down on 28 May, as per Google Finance.
K33’s strategic pivot to Bitcoin marks a notable milestone in European crypto finance, underscoring the increasing importance of digital assets in institutional portfolios. With a well-structured funding model and a clear roadmap toward BTC-backed services, K33 is positioning itself not only as a digital asset broker but also as a forward-thinking financial innovator. As Jenssen confidently stated, “Initial financing is secured and we are ready to accelerate from here.”
