The Norwegian cryptography brokerage firm K33 plans to join the growing number of public companies that buy Bitcoin after collecting 60 million Swedish Krona ($ 6.2 million) to buy and maintain cryptocurrency.
K33 said May 28 that he obtained financing through convertible loans and a new issuance of arrest shares and orders, which “will be used in its entirety to acquire Bitcoin to establish the strategy of the Bitcoin Treasury.”
Warrants are zero interest values that investors can later convert to capital at the same price. K33 could buy up to 57 bitcoin (BTC) at the current BTC price of just over $ 108,000.
The CEO of K33, Bull Jenssen, published on May 28 that he believes that Bitcoin will be the “best performance asset in the next decade”, and his company “will accumulate as many as possible while unlocking powerful synergies with our brokerage operation.”
“Why wait for the government to build a Bitcoin reservation when you can build? He added in another publication.
Convertible loans total 45 million Swedish Krona ($ 4.6 million), are free of interest and mature on June 30, 2028. The 15 million Krona Swedes ($ 1.5 million) will pass through a new issuance of shares and guarantees, according to K33.
If investors convert their arrest orders before March 2026, they have the right to addition to the same conversion rate. He did, K33 could raise up to 75 million Swedish Krona ($ 7.7 million) for purchase of Bitcoin.
Bitcoin Treasure part of the expansion plans
In the provisional report of K33 for the first quarter, published on May 28, Jenssen said K33, working with other Bitcoin treasure partners in the Nordics and hopes to use his treasure as a basis for sacrifice, such as BTC-Bending.
“For K33, Bitcoin is not only a high condition asset, it is also a strategic enabler. With a considerable BTC reserve, we can strengthen our financial position while unlocking new sources of income, product capabilities and associations.
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The price of K33 shares was negotiated with the news of his Bitcoin Treasury pivot and closed on May 28 that he quoted 1.96%, according to Google Finance.
Some companies have seen their shares prices win after announcing a Bitcoin purchase plan.
The Gamestop Shares video game retailer increased almost 12% on March 26 after the company announced plans to buy Bitcoin. However, it fell 11% on May 11 after Gamestop made its first purchase or 4,710 bitcoin.
Meanwhile, when the Cryptoin company based in Paris Blockchain Group began buying Bitcoin on November 5, its shares increased 225% to 0.48 euros ($ 0.52).
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