Norway-based Crypto Company Raises Millions of Dollars to Purchase Bitcoin! Here are the Details

Norway-based crypto asset manager K33 has officially launched its Bitcoin treasury strategy and raised new funds totaling 60 million Swedish krona (approximately 6.2 million dollars) to buy Bitcoin and expand its product range.

Norwegian Crypto Company K33 Raises $6.2 Million to Acquire Bitcoin

In the statement, it was announced that K33, traded on the Nasdaq First North Growth Market, has raised capital through a total of 45 million Swedish Krona in newly issued shares and warrants worth 15 million Swedish Krona, as well as convertible loans.

K33 CEO Torbjørn Bull Jenssen stated, "We believe that Bitcoin will become an important part of the global financial system. I am excited to embark on the process of building a strong balance sheet supported by Bitcoin. This is not just a strong investment conviction, but more importantly, a strategic opportunity for K33 as a leading cryptocurrency broker."

The company emphasized that the acquisition of BTC is not just an investment, but a strategic move to support future product development, including enhanced trading margins and BTC-backed lending services.

Jenssen also added that while the company focuses on the next stage of growth, it draws inspiration from the best practices in the industry.

The latest earnings report released by K33 on Wednesday showed that its first-quarter revenue reached 450 million Swedish kronor, equivalent to 46.6 million dollars. This represents a 200% increase year-on-year and indicates that the company is rapidly growing and gaining momentum towards its Bitcoin-backed strategy.

K33's move mirrors the strategies of other cryptocurrency pioneers, such as Strategy in the U.S. and Metaplanet in Japan. According to K33 Research Director Vetle Lunde, while Strategy is still the dominant buyer, its pace has slowed recently due to the narrowing (MSTR) premium of Class A shares and increased competition in institutional Bitcoin holdings.

*This is not investment advice.

Follow our Telegram group, Twitter account, and Youtube channel for exclusive news, analyses, and on-chain data! Also, start live price tracking right away by downloading our Android and IOS applications!