In a bold move echoing the growing trend among tech-forward companies, Norwegian crypto brokerage firm K33 has unveiled a plan to acquire Bitcoin as part of a long-term strategic pivot. The firm recently secured 60 million Swedish krona—approximately $6.2 million—through a combination of convertible loans, new share issuance, and warrants, with every cent earmarked for Bitcoin purchases.
On May 28, K33 publicly announced the funding, emphasizing that the entire amount will be used to build a Bitcoin treasury reserve. The initiative aims not just to hold BTC as a store of value but to integrate it into future service offerings. According to the company’s leadership, this is just the beginning.
Bitcoin as the Backbone of a New Strategy
CEO Anders Helseth Bull Jenssen took to X (formerly Twitter) to voice his conviction in Bitcoin’s long-term value. “We believe Bitcoin will be the top-performing asset of the next decade,” Jenssen stated. He went on to explain that K33’s new Bitcoin-focused strategy is not simply an investment move but a foundation for expanding the firm’s capabilities, particularly in areas such as Bitcoin-backed lending.
Jenssen also added a call to action that encapsulates K33’s proactive ethos: “Why wait for the government to build a Bitcoin reserve when you can build your own?” With the initial financing already secured, K33 is now shifting gears to execute its strategy at full throttle.
Financing Breakdown: Convertible Loans and Investor Incentives
The financial structure of K33’s capital raise includes 45 million Swedish krona (around $4.6 million) in interest-free convertible loans, with maturity set for June 30, 2028. An additional 15 million krona ($1.5 million) will be raised through newly issued shares and attached warrants. These warrants allow investors to purchase equity at a fixed rate and offer further incentives if exercised before March 2026, potentially boosting K33’s total capital raise to 75 million krona (about $7.7 million).
With Bitcoin trading just above $108,000 at the time of the announcement, this funding would enable the firm to acquire around 57 BTC. However, Jenssen made it clear that the acquisition is only part of a much larger plan.
From Treasury to Services: BTC-Backed Lending on the Horizon
In its Q1 interim report, also released on May 28, K33 explained that its growing Bitcoin holdings would serve as more than just a hedge against inflation or economic instability. The firm sees Bitcoin as a “strategic enabler” that can enhance its financial position and unlock new revenue opportunities.
Jenssen indicated that the company is actively working with other Nordic firms that maintain BTC treasuries, aiming to eventually offer BTC-backed financial products like collateralized lending. “With a significant Bitcoin reserve, we can expand our product lineup, attract strategic partnerships, and better serve a rapidly evolving market,” he said.
Stock Market Reaction Muted—for Now
Despite the ambitious announcement, investor response was relatively muted. K33’s stock closed down 1.96% on the same day, according to Google Finance. This stands in contrast to the sharp upticks seen in other companies following similar BTC treasury announcements.
For instance, GameStop’s shares surged nearly 12% after it revealed plans to buy Bitcoin on March 26. However, volatility followed—the stock dropped 11% when it confirmed the purchase of 4,710 BTC in May. Similarly, French crypto firm Blockchain Group saw its shares skyrocket by 225% on Nov. 5 after beginning its own BTC buying spree.
Whether K33 will see a similar delayed market reaction remains to be seen, but the company’s leadership appears to be playing a long game—less concerned with short-term price movements and more focused on the structural advantages a BTC treasury could provide.
As institutional interest in crypto continues to rise, K33’s move positions it not only as a brokerage firm but as a serious contender in the evolving financial landscape shaped by digital assets.
