K33 raises $6.2M to buy Bitcoin

     

Norwegian crypto firm plans to build BTC reserves and expand services

Norwegian crypto brokerage K33 has raised 60 million Swedish krona ($6.2 million) to begin accumulating Bitcoin, becoming the latest public company to implement a Bitcoin treasury strategy.

On May 28, K33 announced it had secured funding through a mix of convertible loans and the issuance of new shares and warrants. The full amount will be used to purchase Bitcoin under what the firm calls its “Bitcoin Treasury Strategy.”

Warrants, which carry no interest, can be converted into equity at a set price. Based on Bitcoin’s current price of over $108,000, K33 could acquire up to 57 BTC.

K33 CEO Bull Jenssen said on X that Bitcoin is likely to be “the best-performing asset in the coming decade,” and that the company plans to “accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.”

“Why wait for the government to build a Bitcoin reserve when you can build your own? Initial financing is secured and we are ready to accelerate from here,” he added.

The convertible loans amount to 45 million krona ($4.6 million), carry no interest, and mature on June 30, 2028. The remaining 15 million krona ($1.5 million) comes from the new share issuance and warrants.

Investors who convert their warrants before March 2026 will receive additional free warrants at the same conversion rate. If fully exercised, K33 could raise up to 75 million krona ($7.7 million) to expand its Bitcoin holdings.

Bitcoin reserve is part of K33’s broader growth plan

In its Q1 interim report released on May 28, Jenssen said the firm is working with other Bitcoin treasury-focused companies in the Nordic region. He noted that K33 aims to use its BTC reserve to roll out new services, including BTC-backed lending.

“For K33, Bitcoin is not only a high-conviction asset — it’s also a strategic enabler. With a sizable BTC reserve, we will be able to strengthen our financial position while unlocking new revenue streams, product capabilities, and partnerships,” he said.

K33’s stock price was largely unchanged following the announcement, closing down 1.96% on May 28, according to Google Finance.

Other companies have seen varying market reactions to Bitcoin buying plans. GameStop shares rose nearly 12% on March 26 after announcing its Bitcoin strategy, but dropped 11% on May 11 after confirming a 4,710 BTC purchase.

Meanwhile, Paris-based Blockchain Group saw its stock soar 225% on November 5 when it revealed its own Bitcoin acquisition plan.