European crypto firm K33 raises $6.2M for Bitcoin buys

K33 CEO Bull Jenssen said his firm hopes to use its Bitcoin holdings as a foundation to offer new services, such as BTC-backed lending.

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. 

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