K33, a leading European cryptocurrency brokerage, has secured 60 million Swedish krona (approximately $6.2 million) to fund its new Bitcoin Treasury Strategy, joining a growing number of public companies embracing Bitcoin as a corporate asset. The announcement, made on May 28, marks a significant step for the Nasdaq First North-listed firm as it seeks to bolster its financial position and expand its service offerings through strategic Bitcoin accumulation.
The funding comprises 45 million SEK ($4.6 million) in zero-interest convertible loans, maturing in June 2028, and 15 million SEK ($1.5 million) raised through the issuance of new shares and warrants. If investors convert their warrants before March 2026, they will receive additional free warrants, potentially increasing the total raise to 75 million SEK ($7.7 million). At Bitcoin’s current price of approximately $108,000, K33 could acquire around 57 BTC with the initial funds.
K33’s CEO, Torbjørn Bull Jenssen, expressed strong confidence in Bitcoin’s long-term value, stating on X,
“Bitcoin will be the best-performing asset in the coming decade, and my goal with K33 is to accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.”
Jenssen emphasized that the strategy is not merely an investment but a “strategic enabler” to support new services, such as BTC-backed lending and enhanced trading margins.
“Why wait for the government to build a BTC reserve when you can build your own?”
He added, signalling K33’s proactive approach.
In its Q1 2025 interim report, released May 28, K33 reported a 200% year-on-year revenue increase to 450 million SEK ($46.6 million). The company is collaborating with other Nordic firms with Bitcoin treasuries to explore innovative financial products. According to Vetle Lunde, K33’s Head of Research, the move aligns with strategies adopted by firms like MicroStrategy and Japan’s Metaplanet, though he noted that MicroStrategy’s acquisition pace has slowed due to market dynamics.
Despite the announcement, K33’s stock price remained largely unaffected, closing down 1.96% on May 28, according to Google Finance. This contrasts with other firms such as GameStop, which saw a 12% stock surge after announcing Bitcoin purchases, or Blockchain Group, whose shares soared 225% following a similar move.
