Norwegian Brokerage Firm K33 Allocates $6.2M to Launch Bitcoin Treasury Strategy

K33, a Norwegian crypto brokerage firm, has joined the growing list of public companies building Bitcoin treasuries. On May 28, the firm announced it had raised 60 million Swedish krona (around $6.2 million) to fund a direct Bitcoin acquisition.

The company plans to use the entire sum to purchase Bitcoin as part of its new treasury strategy.

Funding Breakdown

K33 secured the funds through a combination of:

• Convertible loans worth 45 million SEK ($4.6M)
• Share issuance and warrants totaling 15 million SEK ($1.5M)

The convertible loans are interest-free and mature on June 30, 2028. Investors who convert their warrants before March 2026 will receive bonus warrants under the same conversion rate. If all warrants are exercised, K33 could raise up to 75 million SEK ($7.7 million) in total.

Why Bitcoin?

K33 CEO Bull Jenssen called Bitcoin the “best-performing asset of the coming decade.” He emphasized that the company aims to accumulate as much BTC as possible while integrating the asset into its brokerage services.

“Why wait for the government to build a Bitcoin reserve when you can build your own?” Jenssen said in a post on X.

Strategic Move, Not Just an Investment

K33 sees the Bitcoin purchase not just as a store of value but also as a business enabler. According to its Q1 interim report, the company intends to use its BTC reserve to:

• Improve financial stability
• Enable BTC-backed lending
• Unlock new product offerings and revenue streams
• Forge strategic partnerships

K33 also noted that it is working with other Bitcoin treasury firms in the Nordic region to explore collaborative growth opportunities.

Market Reaction

Despite the announcement, K33’s stock closed the day down 1.96%, according to Google Finance. The muted reaction contrasts with other companies whose shares surged after revealing similar strategies:

• GameStop saw a 12% spike in March after announcing its BTC plans but dropped 11% after the actual purchase.
• Blockchain Group, based in Paris, gained 225% after its initial Bitcoin buy in November.

Looking Ahead

With Bitcoin trading above $108,000, K33 could purchase up to 57 BTC using its newly raised capital. The move reflects a broader trend among companies seeking financial resilience and new service models through direct crypto exposure.

As more firms embrace Bitcoin treasuries, K33’s initiative may serve as a blueprint for brokerages looking to integrate digital assets into core operations.