Tag:

K33

James Wynn takes $5.3m loss, bets $1.2b on Bitcoin lifeline

K33 begins Bitcoin buying with 10 BTC purchase for treasury strategy

by admin June 3, 2025

Norwegian digital asset brokerage K33 has acquired 10 Bitcoin for approximately SEK 10 million.

This purchase marks the first transaction under its newly launched Bitcoin Treasury strategy. The Oslo-based company, listed on the Nasdaq First North Growth Market, plans to scale its Bitcoin (BTC) holdings over time, aiming for a minimum of 1,000 BTC.

🚨 It begins. K33 has made its first Bitcoin treasury purchase, and 10 BTC is now held on our balance sheet.

This is more than a transaction. It’s the opening move in a long-term strategy rooted in conviction and operational synergies.

We’re just getting started. pic.twitter.com/EGXi0WJqnj

— K33 (@K33HQ) June 3, 2025

The purchase follows K33’s announcement on May 28 that it raised SEK 60 million (around $5.6 million) from insiders and aligned investors, including Klein Group and Modiola AS, to fund its Bitcoin treasury.

The capital raise involved the issuance of 150.56 million new shares and 301.12 million free warrants, with the latter potentially unlocking an additional SEK 75 million if fully exercised before March 2026.

CEO Torbjørn Bull Jenssen said the strategy reflects K33’s belief in Bitcoin’s long-term role in the global financial system. “Our ambition is to build a balance of at least 1,000 BTC over time and then scale from there,” he said.

Bitcoin as a strategy

K33’s move aligns with a growing trend among public companies using Bitcoin as a strategic asset.

Interest from corporations in digital assets is increasing, with more and more public companies allocating Bitcoin to their balance sheets, according to a recent report from Binance.

K33 offers crypto trading, custody, and research services to institutional clients across EMEA.

By directly holding BTC, the firm aims to deepen synergies between its treasury assets and brokerage business, further anchoring its position in the digital asset market.

Source link

June 3, 2025 0 comments

NFT Gaming

K33 Executes First BTC Purchase Under New Treasury Strategy

by admin June 3, 2025

James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.

In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).

Source link

June 3, 2025 0 comments

Crypto Trends

European Firm K33 Raises $6.2M for Strategic Buys

by admin May 29, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Norwegian broker K33 has set its sights on adding Bitcoin to its balance sheet. It raised 60 million Swedish krona (about $6.2 million) to buy and hold the cryptocurrency.

Based on reports, the cash comes from a mix of convertible loans and new share and warrant issues.

New Funding Round Raises 60 Million Krona

According to K33’s May 28 statement, 45 million krona of the total comes from interest-free convertible loans. Those loans don’t carry any interest and mature on June 30, 2028.

The rest, 15 million krona, will be raised through a new share sale and free warrants. If all the warrants and conversions happen, K33 could pull in up to 75 million krona.

Bitcoin Buy Plan Outlined

Based on reports, the fresh funds will go “in full” to build what K33 calls its Bitcoin Treasury Strategy. At today’s price of just over $108,000 per coin, the company could buy about 57 BTC. That gives them a decent pile of BTC to work with as they roll out new services.

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. https://t.co/Crxu0b5QPz

— Torbjørn (@TorbjrnBullJens) May 28, 2025

Management Sees Long-Term Gains

CEO Bull Jenssen posted on X that he expects Bitcoin to be the “best-performing asset in the coming decade.” He wrote that K33 will “accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.”

He also asked:

“Why wait for the government to build a crypto reserve when you can build your own?”

BTC is currently trading at $108,561. Chart: TradingView

Risks And Rewards

K33’s share price barely budged and actually fell 1.90% on May 28. That shows some investors worry about Bitcoin’s wild swings. It’s a known fact that BTC can jump or drop 10% or more in a single day.

GameStop saw its stock jump around 10% after it said it would buy Bitcoin, only to slide 10% when it made its first purchase of 4,710 BTC. And Paris’s Blockchain Group stock once spiked 220% when it started its Bitcoin buys.

Building a Bitcoin reserve also opens doors. Jenssen told investors that a sizable BTC holding could help K33 launch Bitcoin-backed loans and boost its brokerage arm.

With fresh cash on hand, they plan to team up with other Nordic firms doing the same. He said their treasury will be the base for new revenue and product ideas.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Source link

May 29, 2025 0 comments

Crypto Trends

European crypto firm K33 raises $6.2M for Bitcoin buys

by admin May 29, 2025

Norwegian crypto brokerage firm K33 plans to join the growing number of public companies buying up Bitcoin after raising 60 million Swedish krona ($6.2 million) to buy and hold the cryptocurrency.

K33 said on May 28 that it secured financing through convertible loans and a new issue of shares and warrants, which “will be used in full to acquire Bitcoin in order to establish the Bitcoin Treasury Strategy.”

Warrants are zero-interest securities that investors can later convert into equity at the same price. K33 could purchase up to 57 Bitcoin (BTC) at BTC’s current price of just over $108,000.

Source: K33

K33 CEO Bull Jenssen posted to X on May 28 that he thinks Bitcoin will be the “best-performing asset in the coming decade,” and his company will “accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.”

“Why wait for the government to build a Bitcoin reserve when you can build you own? Initial financing is secured and we are ready to accelerate from here!” he added in another post.

The convertible loans total 45 million Swedish krona ($4.6 million), are interest-free and mature on June 30, 2028. The remaining 15 million Swedish krona ($1.5 million) will come through a new share issuance and warrants, according to K33.

If investors convert their warrants before March 2026, they are entitled to additional free warrants at the same conversion rate. If fully exercised, K33 could raise up to 75 million Swedish krona ($7.7 million) for its Bitcoin buy.

Bitcoin treasury part of expansion plans

In K33’s interim report for the first quarter, released May 28, Jenssen said K33 is working with other Bitcoin treasury companies in the Nordics and hopes to use its treasury as a foundation to offer new services, such as BTC-backed lending.

“For K33, Bitcoin is not only a high-conviction asset — it’s also a strategic enabler. With a sizable BTC reserve, we will be able to strengthen our financial position while unlocking new revenue streams, product capabilities, and partnerships,” he said.

Related: Strategy bags 4,020 Bitcoin as price briefly breaks $110K

K33’s share price traded flat with the news of its Bitcoin treasury pivot and closed May 28 trading down 1.96%, according to Google Finance.

K33’s stock price wasn’t affected by the announcement of the firm’s Bitcoin strategy. Source: Google Finance

Some companies have seen their stock prices gain after announcing a Bitcoin buying plan.

Video game retailer GameStop shares jumped nearly 12% on March 26 after the company announced plans to purchase Bitcoin. However, it dropped 11% on May 11 after GameStop made its first purchase of 4,710 Bitcoin.

Meanwhile, when Paris-based crypto company Blockchain Group started buying Bitcoin on Nov. 5, its stock spiked 225% to 0.48 euros ($0.52).

Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review

Source link

May 29, 2025 0 comments

NFT Gaming

Bitcoin Treasury List Grows With Entry of Crypto Brokerage K33

by admin May 28, 2025

In brief

The Oslo, Norway-based firm offers crypto brokerage and research services.
It has entered an agreement with shareholders to buy $6.2 million in Bitcoin.
Bitcoin treasuries are becoming more common.

Norway-based crypto brokerage and research services firm K33 joined the rapidly growing list of companies to adopt Bitcoin treasury strategies.

In a Wednesday announcement, K33 said it had entered into a financing agreement to buy over 60 million Swedish krona ($6.2 million) in the leading cryptocurrency. The firm said that along with its shareholders, it would issue new shares as well as debt to buy the asset.

“We strongly believe that Bitcoin will become an instrumental part of the global financial system,” K33 CEO Torbjørn Bull Jenssen said in a statement.

He added: “I am excited to now start the process of building a strong balance sheet backed by Bitcoin, not only as a strong conviction investment but, more importantly, as a strategic enabler for K33 as a leading cryptocurrency broker.”

The number of companies focused on acquiring Bitcoin has soared in recent weeks, helping to fuel the crypto’s price to new highs. Bitcoin was recently trading at about $108,000, off its recent high near $112,000, but up 15% over the past month.

Strategy—formerly MicroStrategy—pioneered the strategy in 2020, to generate shareholder value and to combat inflation.

Since then, the Nasdaq-listed company’s shares have rocketed and it has accelerated its crypto buying. Strategy now holds more than 580,000 Bitcoin worth more than $62 billion based on current pricing.

Other Nasdaq-listed companies and firms in the crypto space have followed suit, or are about to.

Last month, crypto and financial services giants Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group announced last month that they would create Twenty One, a publicly traded Bitcoin treasury company with plans to acquire 42,000 BTC—or about $4.5 billion worth.

Twenty One will be launched through a planned SPAC merger with Cantor Equity Partners, which trades on the Nasdaq under the ticker CEP and is affiliated with financial services firm Cantor Fitzgerald.

Edited by James Rubin

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

Source link

May 28, 2025 0 comments