K33 Raises ₩8.5 Billion to Buy Bitcoin…"Will Launch Bitcoin-Based Products in Northern Europe"
Summary
- K33 announced that it had secured about ₩8.5 billion to include Bitcoin as a strategic reserve asset.
- All of the raised funds will be used to purchase Bitcoin, and the company plans to launch new financial products for the Nordic market based on this.
- On the day of the announcement, K33’s stock price fell by 2%, and the immediate market response was limited.
K33, a virtual asset (cryptocurrency) brokerage headquartered in Oslo, Norway, has raised $6.2 million (about ₩8.5 billion) to include Bitcoin as a strategic reserve asset. The company plans to launch new financial products for the Nordic market based on this Bitcoin reserve.
According to Crypto News, a specialized virtual asset media outlet, on the 29th (local time), K33 announced it had secured a total of SEK 60 million (approximately $6.2 million) through the issuance of convertible bonds and new shares/warrants. Of this, approximately SEK 46 million was raised through zero-interest convertible bonds maturing in June 2028, and the remaining SEK 15 million was secured through the issuance of new shares.
K33 plans to use the entire amount to purchase Bitcoin. At current prices, this would secure about 57 BTC. Based on this, K33 plans to offer cryptocurrency-based lending and other financial products in the Norway region.
Bull Jenssen, CEO of K33, emphasized, "There’s no need to wait for the government to prepare. We will start with our own Bitcoin reserve," adding, "Bitcoin will be the best-performing asset over the next decade."
The media noted, "K33 has joined the roster of global companies, such as GameStop and the French Blockchain Group, that have adopted BTC in their financial strategies." However, it added, "On the day of the announcement, K33’s stock price fell by 2%, indicating a limited immediate market response."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
