K33, a Norwegian digital asset brokerage, has officially entered the Bitcoin treasury arena after raising 60 million Swedish krona (approximately $6.2 million) to purchase and hold Bitcoin as part of its core financial strategy.
Announced on May 28, the funding round was secured through a mix of convertible loans and a new share issuance with accompanying warrants. According to the company, the entirety of the proceeds will be used to acquire Bitcoin, signaling a long-term conviction in the asset’s role within the firm’s evolving financial infrastructure.
The issued warrants give investors the option to convert their holdings into equity at a fixed rate, enhancing flexibility while reinforcing K33’s capital structure. With Bitcoin prices hovering near $108,000, K33 could potentially acquire close to 57 BTC in this initial phase of its treasury initiative.
This move positions K33 alongside a growing cohort of public firms choosing to hold Bitcoin on their balance sheets—reflecting the increasing recognition of digital assets as strategic reserves rather than speculative tools.
K33 CEO: “Bitcoin Will Be the Best-Performing Asset of the Decade”
K33 CEO Bendik Norheim Schei Jenssen has gone all in on the firm’s Bitcoin-forward vision, describing the asset as the “best-performing investment of the next decade.” In a May 28 post on X, Jenssen declared that K33 intends to “accumulate as many [Bitcoin] as possible,” aligning BTC holdings with the company’s broader brokerage services.
Of the 60 million SEK raised, 45 million SEK ($4.6 million) came via interest-free convertible loans that mature in mid-2028. The remaining 15 million SEK ($1.5 million) was generated through a share issuance bundled with warrants. Investors who convert before March 2026 will receive bonus warrants at the same conversion rate—an added incentive to fuel future fundraising rounds.
Jenssen’s pointed comment—“Why wait for the government to build a Bitcoin reserve when you can build your own?”—mirrors a rising sentiment across the crypto-native business world. If all warrants are eventually exercised, K33 could raise an additional 15 million SEK ($1.5 million), bringing the total to 75 million SEK ($7.7 million) and boosting its BTC purchasing power significantly.
K33 Positions BTC Treasury as Gateway to New Products
Beyond just asset allocation, K33 views its Bitcoin reserve as a springboard for launching BTC-backed financial services. In its Q1 interim report published May 28, Jenssen detailed the company’s broader ambitions: leveraging its Bitcoin holdings to drive new revenue streams, including BTC-backed lending.
“For K33, Bitcoin is not only a high-conviction asset — it’s also a strategic enabler,” Jenssen wrote.
“With a sizable BTC reserve, we will be able to strengthen our financial position while unlocking new revenue streams, product capabilities, and partnerships.”
Despite the forward-looking roadmap, market reaction was subdued. K33 shares fell 1.96% on the day of the announcement, trading flat compared to previous sessions, according to Google Finance.
This contrasts with other firms entering the Bitcoin reserve space. GameStop, for example, saw its stock climb nearly 12% after announcing a BTC buying plan in March, only to slide 11% after executing the purchase in May. Similarly, Blockchain Group, based in Paris, saw its shares skyrocket over 225% in a single day following its Bitcoin reserve reveal last November.
While K33’s announcement may not have sparked a trading frenzy, the company’s methodical approach reflects a broader shift in market thinking: Bitcoin is increasingly seen not as a speculative stunt but as a foundational business asset.
Quick Facts
- K33 raised 60 million SEK ($6.2M) to buy and hold Bitcoin
- Funds were secured via interest-free convertible loans and new shares with warrants
- CEO Jenssen called BTC the “best-performing” asset of the next decade
- Company eyes BTC-backed lending as part of expanded strategy
- K33 shares dipped 1.96% on the day of the announcement
- Potential future raise could increase war chest to 75 million SEK ($7.7M)
