K33 Joins Bitcoin Treasury Trend with $5.6M Acquisition Plan
Norwegian crypto brokerage K33 has raised 60 million Swedish krona, valued at $5.6 million USD, to acquire Bitcoin for its company treasury.
The decision aligns with the growing trend of companies adopting cryptocurrencies, especially Bitcoin, as a reserve asset and store of value.
The crypto brokerage firm announced the development on May 28, 2025, and it is intended to make the company a top player in the Nordic crypto market.
Convertible Loans and Warrants Power K33’s Bitcoin Grab
The firm, listed on Nasdaq First North in Stockholm, raised 60 million SEK through convertible loans—45 million SEK worth around $4.2 million and new share issuance with warrants of 15 million SEK, approximately $1.4 million.
The interest-free convertible loans are expected to expire on June 30, 2028, while warrants, exercisable into equity by March 2026, could yield an additional 75 million SEK, worth approximately $7 million, if exercised in full.
The funds are allocated towards purchasing Bitcoin for K33’s Bitcoin Treasury Strategy. With Bitcoin currently priced at $108,508 according to CoinMarketCap, the firm could acquire approximately 52 BTC.
The company’s stock fell 1.96% on May 28, 2025, contrasting with firms like GameStop, whose shares saw a 12% increase following the announcement of their Bitcoin buys.
Public companies with the largest Bitcoin holdings (Source: Bitbo)
K33’s CEO Bullish on Bitcoin as Market Momentum Builds
K33 CEO Torbjørn Bull Jenssen, in an X post, called Bitcoin the “best-performing asset of the next decade,” while he expressed his plans to acquire significant holdings and integrate them with the firm’s brokerage operations. Jenssen also briefly stated his interest in BTC-backed lending services, though details remain preliminary.
K33’s approach mirrors a 2025 surge in corporate Bitcoin adoption, led by Strategy with 580,250 BTC and Metaplanet, which issued bonds to fund additional Bitcoin purchases.
The improved regulatory clarity in the United States and the establishment of the Strategic Bitcoin Reserve, launched on March 6, 2025, under the Trump administration, have greatly influenced corporate confidence in managing crypto-related risks.
The White House Crypto Summit further cements Bitcoin’s growing role as a legitimate reserve asset, influencing K33’s approach.
K33’s Nordic Ambitions Relies on Bitcoin’s Stability
K33’s decision to include Bitcoin in its treasury could potentially strengthen the firm’s financial position and market standing.
However, risk is imminent in cryptocurrencies, including market volatility—with Bitcoin’s price dropping to $91,371.74 following the Feb. 25, 2025, Bybit hack—and potential regulatory difficulties, such as U.S. Senate resistance to pro-crypto legislation.
Drawing inspiration from Strategy’s use of Bitcoin in capital market activities, K33’s approach has the potential to drive innovation in corporate finance.
