Digital asset firm K33 has added 50 Bitcoin tokens worth approximately $6 million to its balance sheet, accelerating its Bitcoin Treasury strategy.
K33, a prominent brokerage and research company in the digital asset sector, has acquired an additional 50 BTC. The investment amounts to approximately SEK 57.1 million (USD 5.98 million) as the company advances its Bitcoin Treasury initiative. The company confirmed the news in a recent tweet.
Staying True to a Bitcoin Strategy
With this purchase, K33 now holds 85 BTC, acquired at an average cost of around SEK 1,089,220 (USD 114,189.14) per coin. The acquisition follows two successful funding rounds that collectively raised SEK 185 million (USD 19.39 million), earmarked for building a Bitcoin reserve.
BTC Price Action
The announcement comes at a time when Bitcoin has crossed the $118,000 threshold for the first time. Bitcoin achieved this historic price milestone after several attempts to break through the $111,000 mark, which ultimately succeeded on Thursday evening.
Earlier today, Bitcoin reached a high of $118,755. In parallel, the asset has gained more than 25% year-to-date (YTD), outpacing both the S&P 500 and tech leader Nvidia.
K33’s Bitcoin strategy highlights its firm belief in the asset’s long-term prospects. It also reflects the company’s aim to leverage digital asset reserves for operational advantages in its brokerage business.
K33 is listed on the Nasdaq First North Growth Market and provides execution services, research insights, and advisory support to institutional and private investors throughout the EMEA region. Mangold Fondkommission serves as its Certified Adviser.