Norway’s K33 Raises $6.2M to Build Bitcoin Treasury
- Bitcoin will be the best-performing asset in the coming 10 years, and his firm will focus on accumulating as many as possible- K33 CEO.
- On May 28, the share price of K33 closed trading down 1.96%, as per the data revealed by Google Finance.
A crypto brokerage company from Norway, K33, has recently raised 60 million Swedish Krona, equal to $6.2 million, to purchase and hold the largest cryptocurrency, Bitcoin.
On May 28, K33 revealed that it has safeguarded financing via convertible loans and issuing new shares and warrants, which will be utilized in acquiring Bitcoin, further establishing the Bitcoin Treasury Strategy.
Talking about warrants, it is a zero-interest security that investors can convert into equity at the same price. As of current price of Bitcoin hovers over $108,000, K33 can buy up to 57 BTC.
The Chief Executive Officer of K33, Bull Jenssen, took to the social media platform X and posted that he believes Bitcoin will be the best-performing asset in the coming 10 years. And his firm will focus on accumulating as many as possible. Also, it will explore powerful operational synergies with the company’s brokerage operation.
He made another post in which he mentioned why to wait for the government to establish a Bitcoin reserve when you can create your own. The primary funding is secured, and we are ready to boost from here.
K33 To Offer BTC-Backed Services
The convertible loans are estimated at around 45 million Swedish Krona, which are liable to no interest and will mature on June 30, 2028. The other 15 million Swedish Krona will be generated via a new share and warrant issuance, K33 notes.
Jenssen also mentioned that the company is working with other Bitcoin treasury companies in the Nordics and wishes to use its treasury as a foundation to provide new services, like BTC-supported lending.
He further noted that for K33, Bitcoin, apart from being a high-conviction asset, is also a strategic enabler. Having a sizable BTC reserve, we will be capable of strengthening our financial position. Also, we can look for new revenue streams, product capabilities, and collaborations.
On May 28, the share price of K33 closed trading down 1.96%, as per the data revealed by Google Finance.
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Norway’s K33 Raises $6.2M to Build Bitcoin Treasury
- Bitcoin will be the best-performing asset in the coming 10 years, and his firm will focus on accumulating as many as possible- K33 CEO.
- On May 28, the share price of K33 closed trading down 1.96%, as per the data revealed by Google Finance.
A crypto brokerage company from Norway, K33, has recently raised 60 million Swedish Krona, equal to $6.2 million, to purchase and hold the largest cryptocurrency, Bitcoin.
On May 28, K33 revealed that it has safeguarded financing via convertible loans and issuing new shares and warrants, which will be utilized in acquiring Bitcoin, further establishing the Bitcoin Treasury Strategy.
Talking about warrants, it is a zero-interest security that investors can convert into equity at the same price. As of current price of Bitcoin hovers over $108,000, K33 can buy up to 57 BTC.
The Chief Executive Officer of K33, Bull Jenssen, took to the social media platform X and posted that he believes Bitcoin will be the best-performing asset in the coming 10 years. And his firm will focus on accumulating as many as possible. Also, it will explore powerful operational synergies with the company’s brokerage operation.
He made another post in which he mentioned why to wait for the government to establish a Bitcoin reserve when you can create your own. The primary funding is secured, and we are ready to boost from here.
K33 To Offer BTC-Backed Services
The convertible loans are estimated at around 45 million Swedish Krona, which are liable to no interest and will mature on June 30, 2028. The other 15 million Swedish Krona will be generated via a new share and warrant issuance, K33 notes.
Jenssen also mentioned that the company is working with other Bitcoin treasury companies in the Nordics and wishes to use its treasury as a foundation to provide new services, like BTC-supported lending.
He further noted that for K33, Bitcoin, apart from being a high-conviction asset, is also a strategic enabler. Having a sizable BTC reserve, we will be capable of strengthening our financial position. Also, we can look for new revenue streams, product capabilities, and collaborations.
On May 28, the share price of K33 closed trading down 1.96%, as per the data revealed by Google Finance.
Highlighted Crypto News Today:
SEC Delays Bitwise ETF Decision, Leaving XRP, SOL, and ADA awaiting
Read More