The institutional adoption of Bitcoin is skyrocketing, and in a recent development, K33, a crypto brokerage based in Norway, has announced securing 60 million Swedish Krona, which will be used to buy BTC and launch a Bitcoin Treasury Strategy.
On May 28, 2025, K33 stated that it had secured funding through convertible loans and a new issue of shares and warrants.
The press release quotes that, “ The Convertible Loans totaling SEK 45 million are interest-free and shall be paid to the Company at the latest on the 15th day of the last calendar month of each quarter in six quarterly arrays, commencing on 15 September 2025, however ending on 15 November 2026. The Convertible Loans mature on 30 June 2028, but the Company has the right to repay them from 15 June 2027 for 110% of the nominal value.”
Following this development, the Chief Executive Officer of K33, Torbjørn Bull Jenssen, said, “ The launch of our Bitcoin Treasury Strategy marks a major milestone for K33 and is a leap forward on our strategy. 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.”
It is worth noting that with the raised amount, K33 is expected to buy 55 to 57 Bitcoins, and as of writing, it has been trading at $107,889 with a slight loss of 0.80% in the past 24 hours.
Torbjørn showed his pro stance for BTC in his most recent X post, arguing that Bitcoin will be the best-performing asset in the coming decades, and his goal with K33 is to accumulate as many as possible, unlocking powerful operational synergies with their brokerage operations.
A quick overview of Bitcoin prices
Over the past few weeks, Bitcoin’s performance has been praised widely as it broke its all-time high, which was marked at the beginning of this year, and has now established a new ATH just below $112k.
When writing, Bitcoin was trading above all its crucial exponential moving averages, including 20, 50, 100, and 200-day EMAs. Data available on TradingView states that BTC prices are up by 13.54% in the past 30 days and have added more than 28% in a quarter.
The simple moving average (10) is $108,629, yet the hulk moving average (10) is $108,303, and at the same time, the simple moving average (200) is $94,597.
With growing bullishness in Bitcoin price, experts now argue that it is soon expected to beat the mark of $115,000 and then might head towards the mark of $125k. On the other hand, its possible support level is below $90k, followed by $84k.
