Norwegian crypto brokerage firm K33 has successfully raised 60 million Swedish krona (approximately $6.2 million) to purchase and hold Bitcoin, marking its entry into the growing trend of public companies building Bitcoin treasuries.
The funding was secured through convertible loans and a new issue of shares and warrants, all of which will be dedicated to acquiring Bitcoin as part of K33’s new Bitcoin Treasury Strategy.
📢 PRESS RELEASE: K33 secures financing of SEK 60 million to buy bitcoin and launch its Bitcoin Treasury Strategy.
Read the press release here: https://t.co/zRPFCWag5P pic.twitter.com/qAha0lpKnt
— K33 (@K33HQ) May 28, 2025
The convertible loans amount to 45 million Swedish krona ($4.6 million) and are interest-free, with a maturity date of June 30, 2028. The remaining 15 million Swedish krona ($1.5 million) comes from new share issuance and warrants. These warrants allow investors to convert them into equity at the current price, with the potential for K33 to purchase up to 57 Bitcoin at the current price of just over $108,000 per Bitcoin.
K33’s CEO, Bull Jenssen, expressed strong confidence in Bitcoin’s future, describing it as the “best-performing asset in the coming decade.” He emphasized the company’s goal to accumulate as much Bitcoin as possible while leveraging operational synergies with their existing brokerage business. Jenssen also highlighted the strategic advantage of building a Bitcoin reserve independently rather than waiting for government initiatives.
Beyond simply holding Bitcoin, K33 plans to use its Bitcoin treasury as a foundation to expand its service offerings, including BTC-backed lending. Jenssen stated that Bitcoin is not only a high-conviction asset for the company but also a strategic enabler that will strengthen K33’s financial position and unlock new revenue streams, product capabilities, and partnerships.
Notably, Tokyo-listed investment firm Metaplanet raised $6.2 million to increase its cryptocurrency holdings, acquiring 1,004 BTC for $104 million, bringing its total to 7,800 BTC.
Meanwhile, Norway’s central bank (Norges Bank) is exploring a central bank digital currency (CBDC) and expects to decide by 2025. Deputy Governor Pål Longva indicated a preference for a wholesale model, citing benefits for financial institutions. Despite other countries progressing faster, Norway believes it is on schedule and is carefully evaluating the complexities of its approach.
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