Digital asset company K33 is accelerating Bitcoin’s financial strategy by adding 50 Bitcoin tokens worth around $6 million to its balance sheet.
K33, a well-known brokerage and research firm in the digital assets sector, has acquired an additional 50 BTC. The investment amounts to approximately 57.1 million (USD 5.98 million) as it is underway on the Bitcoin Treasury initiative. The company has confirmed recent news Tweet.
Stay true to the Bitcoin strategy
With this purchase, K33 held 85 BTC, acquired at an average cost of 1,089,220 (USD 114,189.14) per coin. The acquisition follows two successful funding rounds that collectively raised SEK 185 million (US$1,939 million) allocated for the construction of the Bitcoin Reserve.
BTC Price Action
The announcement comes when Bitcoin crosses the $118,000 threshold for the first time. Bitcoin has achieved this historic price milestone after several attempts to break past the $111,000, which was ultimately successful on Thursday evening.
At the beginning of today, Bitcoin hit a high of $118,755. In parallel, assets have earned more than 25% (YTD) since the start of the year, surpassing both the S&P 500 and Tech leader Nvidia.
K33’s Bitcoin strategy highlights its solid belief in the long-term outlook for assets. It also reflects the company’s purpose of leveraging digital asset reserves due to operational benefits in the securities company’s business.
K33 is listed on the NASDAQ First North Growth Market and provides execution services, research insights and advice support to institutional and private investors across the EMEA region. Mangold Fondkommitsion serves as a certified advisor.