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strategic

European Firm K33 Raises $6.2M for Strategic Buys

by admin May 29, 2025

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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

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May 29, 2025 0 comments

NFT Gaming

Pakistan to Establish a Bitcoin Strategic Reserve, Allocate 2000 Megawatts of Energy for Crypto Mining

by admin May 28, 2025

LAS VEGAS, Nevada — The government of Pakistan has plans to establish a strategic bitcoin

reserve and support bitcoin mining, the country’s Minister of State for Blockchain and Crypto Bilal Bin Saqib announced at Bitcoin 2025 in Las Vegas on Wednesday.

Bin Saqib said that Pakistan’s plans for a strategic bitcoin reserve were inspired by U.S. President Donald Trump’s administration’s own nascent plan for a strategic bitcoin reserve in the U.S., which will — at least at first — be filled with the U.S. government’s holdings from criminal and civil forfeitures, estimated to sit at around 200,000 bitcoins. He also said that the government of Pakistan was following the U.S.’s push for stablecoin legislation, the GENIUS Act, “very carefully.”

Like the bitcoins earmarked for the U.S. strategic reserve, Bin Saquib said that the Pakistani government would not sell its bitcoins.

“This wallet, the national bitcoin wallet, is not for speculation or hype. We will be holding these bitcoins and we will never, ever sell them,” Bin Saqib said.

In addition to setting up a strategic reserve, Bin Saqiib announced that the government of Pakistan has earmarked 2,000 megawatts of electricity for bitcoin mining and AI data centers.“We want to welcome all miners to come to Pakistan, all the infrastructure players to come to Pakistan and build with us,” Bin Saqib said.

Bin Saqib said that the establishment of a bitcoin strategic reserve in Pakistan would be “just the beginning” of the country’s embrace of the crypto industry.

“We have over 100 million unbanked people. They lack tools for saving, for investment, and we want to change that. We want them to break their economic classes. And I really believe that crypto and blockchain can help us take that quantum leap,” Bin Saqib said. “We want to tokenize our illiquid assets. We want to do digital IDs … So Pakistan is looking for allies. Pakistan is looking for access, because Pakistan wants to build.”

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May 28, 2025 0 comments

Crypto Trends

Pakistan crypto chief announces Bitcoin strategic reserve

by admin May 28, 2025

Bilal Bin Saqib, head of Pakistan’s crypto council, announced on May 28 that the country is moving to establish a strategic Bitcoin reserve.

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Saqib said the government of Pakistan followed the United States’ lead in establishing a Bitcoin strategic reserve and is embracing pro-crypto regulatory policies. The government official told the audience:

“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”

The announcement represents a significant departure from the government of Pakistan’s previous stance on cryptocurrencies, holding that crypto would never be legal in the country.

Pakistan’s shift reflects the broader trend of nation-states adopting pro-crypto policies following the regulatory shift in Washington, DC under the President Donald Trump administration.

Bilal Bin Saqib at the Bitcoin 2025 conference announcing a Bitcoin strategic reserve. Source: Cointelegraph

Related: Pakistan appoints special assistant to PM on blockchain and crypto

This is a developing story, and further information will be added as it becomes available.

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May 28, 2025 0 comments

NFT Gaming

MARA’s Fred Thiel Says U.S. Should Start Mining Bitcoin to Fill Strategic Reserve

by admin May 27, 2025

LAS VEGAS, Nevada — Marathon Digital Holdings (MARA) CEO Fred Thiel has an idea for how U.S. President Donald Trump’s administration can make good on its promises to build out a strategic bitcoin reserve: start mining.

Speaking on a panel at Bitcoin 2025 in Las Vegas on Tuesday, Thiel said that the U.S. government has many potential ways to generate bitcoin to fill the strategic bitcoin reserve that would adhere to the “budget-neutral” acquisition strategy laid out in Trump’s March executive order, including using excess hydroenergy to mine bitcoin domestically.

Though it’s been nearly three months since Trump authorized the establishment of a strategic bitcoin reserve, it remains unclear exactly how — and when — the government will take steps to actually begin filling it, a source of evident frustration among a number of speakers at the conference.

“I think it’s critical,” Thiel said of acquiring bitcoin for the reserve. “The U.S. making a statement that we’re going to have a strategic reserve is an empty statement unless you start putting stuff into it.”

At this point, the reserve is supposed to hold all of the bitcoin that has been sized by the government in civil and criminal forfeitures — estimated to be approximately 200,000 bitcoins. But many in the industry and government, including Sen. Cynthia Lummis (R-Wyo.), think that getting the government’s existing stockpile of bitcoin into a strategic reserve is merely a first step, to be followed by bigger, more meaningful acquisitions.

In March, Lummis re-introduced legislation — the so-called BITCOIN Act of 2025 — aimed at codifying Trump’s plans for a strategic bitcoin reserve. Under Lummis’ plan, after getting all of the forfeited bitcoin into the reserve, the U.S. government would spend the next two to five years converting a portion of its gold certificates into bitcoin.

“We have enough assets in under performing assets that we can get five percent of the world’s bitcoin without spending a single dime,” Lummis said.

However, Lummis acknowledged that it’s unlikely that any real movement on the BITCOIN Act — or, more broadly, taking any significant steps to fill the strategic reserve with anything other than forfeited assets — will come before Congress works its way through stablecoin and market structure legislation.

“It’s going to be a heavier lift than I thought because so many people don’t understand bitcoin,” Lummis said.

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May 27, 2025 0 comments

Crypto Trends

Sei Development Foundation taps Jamie Finn as strategic advisor

by admin May 20, 2025

Sei Development Foundation has appointed Jamie Finn, a veteran fintech entrepreneur and co-founder of Securitize as a strategic advisor.

Sei Development Foundation, a non-profit focused on the development and adoption of Sei (SEI), announced the appointment on May 20, 2025.

“Jamie brings a rare combination of institutional credibility, deep technical insight, and hands-on experience building real-world asset platforms,” commented Justin Barlow, executive director at the Sei Development Foundation.

As Sei Development Foundation’s new advisor Finn’s key areas of collaboration will include the topic of strategic growth and adoption of real-world assets on the Sei blockchain network.

Finn’s expertise and experience will be crucial for Sei RWA approach, having been a key figure across blockchain technology, digital assets and finance sectors.

His role will also include exploring potential partnerships.

In a comment about the market, Jamie Finn said:

“Sei’s performance and developer-first approach make it a compelling platform for tokenized RWA strategies that are scalable, compliant, and institutional-grade. I’m excited to support the Sei Development Foundation in building the infrastructure needed to bridge capital, grow market access, and drive sustainable adoption of tokenized assets and beyond.”

The appointment of Jamie Finn comes a day after another major development related to Sei- the launch of Sei Giga.

On May 19, the Sei Labs team revealed the release of Sei Giga whitepaper as it looks to unveil the first multi-proposer Ethereum Virtual Machine layer 1 blockchain.The Sei mainnet went live in 2023, and its rapid growth includes the processing of billions of dollars worth of transactions.

The Giga update aims at bolstering Sei performance, bumping this metric by over 50x.

Sei’s native token traded in the red at the time of writing, down 0.3% on the day. The cryptocurrency’s price has dropped by more than 16% in the past week.

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May 20, 2025 0 comments