K33 Raises $6.2M for Bitcoin 🚀
Norwegian crypto company K33 has unveiled a strategic move by raising 60 million Swedish kronor ($6.2 million) to acquire Bitcoin and explore new product opportunities. Announced on the Nasdaq First North Growth Market, K33 secured financing through a mix of new shares and warrants for SEK 15 million, combined with SEK 45 million in convertible loans. CEO Torbjørn Bull Jenssen said the initiative positions Bitcoin as a key element of the global financial system and strengthens their balance sheet. K33 aims to hold Bitcoin long-term and leverage it to enhance product capabilities, including trading margins and BTC-backed lending. Recent revenue reports show a 200% increase year-on-year, reaching SEK 450 million ($46.6 million) in Q1. K33's Bitcoin strategy is in line with industry trends, but faces competition in corporate Bitcoin acquisitions. Bitcoin's price recently fell by 0.9%, trading at $107,971.
FAQ
❓ What is K33's new strategy?
K33 plans to use $6.2M to acquire Bitcoin, using it as a strategic asset to develop new crypto services.
❓ Why does K33 view Bitcoin as critical?
CEO Torbjørn Bull Jenssen believes Bitcoin will be integral to the global financial system and help strengthen K33's market position.
❓ How is K33 financing its Bitcoin acquisition?
K33 raised funds through new share issues, warrants, and convertible loans totaling SEK 60 million.