Norwegian crypto brokerage K33 has taken a significant step towards expanding its Bitcoin holdings by securing 60 million Swedish krona (around $6.2 million) through convertible loans and share issuance.
The Oslo-based firm intends to deploy the full amount to purchase Bitcoin, marking its entry into the growing group of publicly traded companies using Bitcoin as a treasury asset.
The bulk of the financing, 45 million krona ($4.6 million), comes from zero-interest convertible loans set to mature in June 2028.
The remaining 15 million krona ($1.5 million) was raised via a new share and warrant issuance.
Warrants are special securities allowing investors to convert them into equity later, with an incentive of bonus warrants if converted before March 2026.
If all warrants are exercised, K33 could raise up to 75 million krona ($7.7 million) to expand its Bitcoin reserve.
At Bitcoin’s current price just above $108,000, the company could acquire roughly 57 BTC.
K33’s CEO, Bull Jenssen, has previously expressed optimism on his X account, stating,
“Bitcoin will be the best performing asset in the coming decade and my goal with K33 is to accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.”
In a separate post, he also positioned the move as proactive, stating,
“Why wait for the government to build a Bitcoin reserve when you can build your own?”
K33 views Bitcoin not only as an investment but as a strategic asset to strengthen its financial position and expand its product offerings.
In the company’s Q1 interim report released alongside the funding announcement, Jenssen highlighted ambitions to leverage the Bitcoin reserve to introduce BTC-backed lending and other financial services targeted at the Nordic market.
The Bitcoin Treasury Strategy is expected to unlock new revenue streams and partnerships, adding operational synergies to its existing brokerage business.
While some firms have seen their stock prices react strongly to Bitcoin purchase plans, K33’s shares showed a modest response.
On the day of the announcement, K33’s stock closed down nearly 2%.
This contrasts with other companies like GameStop, whose shares rose almost 12% following its Bitcoin buying announcement but later dropped after its initial purchase.
Similarly, France’s Blockchain Group saw its stock surge over 200% when it started buying Bitcoin last year.
The trend of publicly traded firms raising capital to buy Bitcoin continues to grow, driven by the cryptocurrency’s recent rally to record levels near $112,000.
Several companies are tapping capital markets to fund large Bitcoin purchases, following the lead of pioneers like Strategy.
French crypto holding company Blockchain Group recently secured a €63.3 million bond sale to support a $72 million Bitcoin acquisition.
Meanwhile, Trump Media & Technology Group announced plans to raise $2.5 billion for crypto purchases.
For K33, the new Bitcoin treasury marks a strategic shift to strengthen its financial position and broaden its business scope.
Market watchers will be looking closely to see if this investment delivers long-term value to shareholders and helps the company grow beyond traditional brokerage services.
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