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The Norwegian cryptocurrency company K33 raises additional funds to purchase up to 1,000 BTC.
The Norwegian cryptocurrency company K33 plans to raise a minimum of 85 million Swedish kronor (8.9 million USD ) through a stock issuance to purchase a maximum of 1,000 Bitcoin as reserve assets.
Each share is offered at a price of 0.011 USD, with a minimum issuance of 820 million shares. K33 stated that the raised funds will be used to purchase and hold Bitcoin on the balance sheet, support the expansion of brokerage operations, and enhance appeal to institutional investors. The company has purchased its first 5 BTC worth approximately 523,000 USD. CEO Torbjørn Bull Jenssen asserted that owning Bitcoin will help strengthen finances and capture potential price increases. The issuance is not intended for markets such as the US, Canada, Russia, South Korea, etc. K33's move follows a wave of Norwegian companies investing in Bitcoin.