TL;DR
- Norwegian digital asset firm K33 is launching a $9 million capital raise to accumulate up to 1,000 BTC on its balance sheet.
- The share issue, managed by Pareto Securities, has no upper limit, offering flexibility as market demand evolves.
- CEO Torbjørn Bull Jenssen affirms Bitcoin will play a foundational role in K33’s long-term strategy, aligning with global trends favoring decentralized assets and enhancing the company’s position in digital finance.
K33, a prominent Nordic player in the digital asset sector, has unveiled its plan to raise $9 million through a directed share issue in an effort to boost its Bitcoin treasury. With the goal of securing 1,000 BTC on its balance sheet, the move underscores a decisive step in integrating Bitcoin as a primary corporate asset. The share price has been set at SEK 0.1036, but the raise has no predetermined ceiling, leaving room for additional capital if investor appetite proves strong.
CEO Torbjørn Bull Jenssen emphasized that direct Bitcoin exposure is not only a financial hedge but also a catalyst for new business opportunities. According to him, building a Bitcoin-backed balance sheet will improve operational efficiency, expand product offerings, and attract serious institutional interest.
Bitcoin Integration Enhances Long-Term Operational Strength
K33’s plan follows its May 28 announcement detailing a roadmap to Bitcoin accumulation. The firm believes that holding BTC directly, rather than relying on fiat reserves, provides better leverage, especially during periods of market volatility. It also aligns with K33’s broader ambition to redefine how digital asset brokerages operate in a changing global financial landscape.
By having liquid BTC reserves, K33 can respond more quickly to market shifts and strategically onboard partners aligned with Bitcoin-centric models. Jenssen maintains that Bitcoin’s asymmetric upside potential makes it a superior long-term treasury asset, particularly for firms seeking both resilience and innovation.
Critics Point to Dilution Risks From Ongoing BTC Purchases
Despite the enthusiasm, some voices in the investment world urge caution. Matthew Sigel, Head of Digital Assets at VanEck, warned that continuous Bitcoin accumulation through share issuance could erode shareholder value, especially if stock prices lag behind net asset value. He referenced cases like Semler Scientific, where a similar strategy led to significant equity losses despite large BTC holdings.
Nonetheless, K33 remains undeterred, citing its clear strategy and the flexibility of the open-ended raise as strengths. The firm’s recognition in Nordic crypto circles and its commitment to transparent execution further support investor confidence.
With the offering already underway, K33 aims to complete the raise swiftly and begin purchasing BTC.
