In the quaint land of Norway, where the fjords whisper secrets of the sea, a broker by the name of K33 has decided to embark on a rather audacious venture: adding Bitcoin to its balance sheet. With a flourish, they have raised a staggering 60 million Swedish krona (approximately $6.2 million) to buy and hoard this digital treasure. Ah, the allure of cryptocurrency! 💰
It appears that this cash infusion is a delightful concoction of convertible loans and the issuance of new shares and warrants. A veritable buffet of financial instruments! 🍽️
A New Funding Round: 60 Million Krona, Please!
As per K33’s proclamation on May 28, a generous 45 million krona of this sum is derived from interest-free convertible loans. Yes, you heard it right—interest-free! These loans are set to mature on June 30, 2028, which gives one ample time to ponder the mysteries of life and Bitcoin.
The remaining 15 million krona will be procured through a new share sale and free warrants. If all goes according to plan, K33 could potentially rake in a whopping 75 million krona. What a delightful prospect! 🎉
The Grand Bitcoin Buy Plan
According to the latest murmurs, these fresh funds will be devoted “in full” to what K33 has whimsically dubbed its Bitcoin Treasury Strategy. At the current price of just over $108,000 per coin, the company could acquire approximately 57 BTC. A modest pile, indeed, but enough to make one feel like a digital king! 👑
“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.”
— Torbjørn (@TorbjrnBullJens) May 28, 2025
Management’s Vision: Long-Term Gains or Just Longing?
Our dear CEO, Bull Jenssen, took to X to declare that he anticipates Bitcoin to be the “best-performing asset in the coming decade.” He mused that K33 will “accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.” A mouthful, indeed! 🤔
He also posed a rather intriguing question:
“Why wait for the government to build a crypto reserve when you can build your own?”
Risks and Rewards: A Dance with Destiny
However, the stock market is a fickle mistress. K33’s share price barely stirred and even took a nosedive of 1.90% on May 28. This suggests that some investors are rather anxious about Bitcoin’s notorious volatility. It is well-known that BTC can leap or plummet by 10% or more in a single day. Quite the rollercoaster ride! 🎢
Take, for instance, GameStop, which saw its stock soar by 10% after announcing its Bitcoin intentions, only to tumble by 10% upon its first purchase of 4,710 BTC. And let us not forget Paris’s Blockchain Group, whose stock once skyrocketed by 220% when it began its Bitcoin escapades. What a world we live in!
Building a Bitcoin reserve, however, is not without its charms. Jenssen informed investors that a substantial BTC holding could pave the way for K33 to launch Bitcoin-backed loans and enhance its brokerage arm. A veritable treasure trove of opportunities!
With fresh cash in their coffers, they plan to collaborate with other Nordic firms pursuing similar paths. Jenssen confidently stated that their treasury will serve as the foundation for new revenue streams and innovative product ideas. Ah, the sweet scent of ambition! 🌟
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2025-05-29 23:14