Norway-based K33 firm has raised $5.6 million from insiders to acquire Bitcoin.

Norwegian digital asset company K33 became the latest firm to join the Bitcoin (BTC) train. On Wednesday, May 28, the company announced it secured 60 million Swedish krona, worth about $5.6 million, for its Bitcoin treasury.

To fund the acquisition, the Oslo-headquartered company, which is listed on Nasdaq First North in Stockholm, issued 150.56 million new shares worth 15 million SEK. K33 also issued 301.12 million free warrants valued at 45 million SEK. According to the company, the capital comes from insiders and aligned investors, including Klein Group and Modiola AS.

Free warrants are zero-interest instruments that investors can later convert into equity at the same price. If converted before March 2026, investors are entitled to additional free warrants at the same conversion rate. If fully exercised, the warrants would allow K33 to raise an additional 75 million SEK, approximately $7.1 million.

Why is K33 buying Bitcoin?

K33 CEO Torbjørn Bull Jenssen said the move aligns with the company’s broader strategic vision and underscores its commitment to Bitcoin as both a financial asset and institutional offering.

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

K33 is a digital asset investment and brokerage firm that serves institutional clients across Europe. Its offerings include trading and brokerage services, crypto custody, and industry research.

The firm is just one of many companies that recently started investing in Bitcoin. On the same day of K33’s announcement, Japanese company Metaplanet issued $50 million in bonds to expand its Bitcoin balance sheet.