Norwegian crypto brokerage firm K33 has raised $6.2 million to purchase Bitcoin as part of its newly launched Bitcoin Treasury Strategy. The Oslo-based company secured this funding through a combination of convertible loans and new share-and-warrant issuance. The financing includes 45 million SEK ($4.6 million) in zero-interest convertible loans, maturing in June 2028, and an additional 15 million SEK ($1.5 million) raised through equity instruments. If investors convert their warrants before March 2026, they will receive bonus warrants, potentially increasing K33’s total raise to 75 million SEK ($7.7 million).
Strategic Move Towards Bitcoin
K33’s CEO, Torbjørn Bull Jenssen, has positioned Bitcoin as a high-conviction asset and a strategic enabler for the company. He believes Bitcoin will be the best-performing asset in the coming decade and has emphasized the importance of accumulating as much as possible. Jenssen stated, “Why wait for the government to build a Bitcoin reserve when you can build your own?”.
At Bitcoin’s current price of around $108,000, K33 could purchase approximately 57 BTC. However, beyond simply holding Bitcoin, K33 plans to leverage its BTC reserve to launch BTC-backed financial products, including lending services, particularly within the Nordic market.
Expanding Product Offerings
K33’s Bitcoin Treasury Strategy aligns with a broader trend of public companies turning to Bitcoin as a treasury asset. The firm aims to strengthen its financial position while unlocking new revenue streams, product capabilities, and partnerships. Jenssen noted that Bitcoin is not just an investment but a strategic tool that will allow K33 to expand its offerings.
The company’s Q1 interim report, released on the same day as the funding announcement, highlighted its strong financial performance. K33 reported SEK 450 million ($46.6 million) in revenue, marking a 200% year-on-year increase. This growth underscores the firm’s ambition to become a leading cryptocurrency broker in the region. 
Market Reaction & Industry Trends
K33’s move follows similar strategies adopted by firms like Strategy and Japan’s Metaplanet, which have also accumulated Bitcoin as part of their corporate treasury strategies. However, while some companies have seen their stock prices surge after announcing Bitcoin purchases, K33’s own stock showed a muted response, closing down nearly 2% on the day of the announcement.
Despite this, K33 remains committed to its Bitcoin strategy, viewing it as a long-term play rather than a short-term market reaction. The firm’s approach reflects a growing belief among financial institutions that Bitcoin can serve as a valuable treasury asset, providing both stability and growth potential in an evolving financial landscape.
