There was no exchange party after K33 announced its Bitcoin Treasury strategy and brought in 60 MSEK. But could it be because the details are missing? We at Kaupr ask if the Bitcoin Treasury strategy brings K33 to the forefront of the “crypto-as-a-service” wave in Europe.
On X (Twitter), a photo that CEO Torbjørn Bull Jensen has posted of himself jogging in the streets of Copenhagen has sped up the speculation among Twitter users that some deal or expansion linked to the Bitcoin Treasury strategy. K33 does not have an operational office in Copenhagen. At the same time, the reaction in the stock market to K33's new strategy has been so far muted.
Unlike the stock rallies seen in most other treasury companies following such news, the price rally for K33's shares did not materialize. As Cryptonews writes: “K33's own stock reacted more subdued, falling nearly 2% on the day of the announcement. Market watchers will now be watching to see if the Bitcoin venture delivers long-term gains, both for the company's balance sheet and stock price.” (Red. comment: the share price went up slightly at the end of the week, and is up 4.9% on the last 5 days).
Other sources have commented that the lack of a rate peg may be due to a lack of detail on how the treasury strategy should actually yield operational gains. Kaupr has therefore taken a closer look at some of the K33's capabilities in this area.
When K33 a Bull Jenssen announced the Bitcoin Trasury strategy, Bull Jenssen stressed that this was not just about accumulating Bitcoin as a long-term asset, but that Bticoin on its balance sheet would be able to act as a “strategic enabler” for the business. He also stressed that a significant BTC reserve will strengthen K33's financial position, while allowing for new revenue streams, product opportunities and institutional partnerships.
What are K33's possibilities, both within the traditional brokerage business and within Crypto-as-a-Service:
K33's upcoming lending product is likely built on the Vanir Finance platform, which K33 acquired from Klein Group just over a year ago. This platform, coupled with a solid Bitcoin inventory, can enable BTC-backed loans and further financial product development.
Para partnership with Stack x Me Should K33 provide crypto infrastructure for Stack investment app. Bull Jenssen has repeatedly announced that K33 is working on provide brokering services also to banks, neobanks and other Nordic exchange services. Yes, he has also conveyed that K33 is waiting Large future revenues from partnerships, and that over time, the revenue from the partnership may be greater than the income from the brokerage house's own trading volume. Is it Bitcoin on the balance sheet that should make this type of deal skyrocket?
In January, news came that the European Squash Federation (ESF) would become the first major European sports federation to adopt Bitcoin in its operations. K33 qui assistenza ESF a su strategica Bitcoin, fornecer i servizi di archiviazione e cambio su Bitcoin. Lately, there are an increasing number of international federations and clubs that have shown interest in investing in Bitcoin.
K33 also recently onboarded its first bank, a savings bank, corporate customer. Tentative as a regular customer -- the bank uses K33's platform for market insights and possible investments in digital assets -- but this nonetheless marks an important milestone in institutional interest.
In addition, K33 actively cooperates with other Bitcoin Treasury companies in the Nordic countries, such as Ace Digital, where Bull Jenssen sits on the Advisory Board, and Finpeers, where K33 was one of the shareholders in the start-up of Finpeers. Together, these players can probably leverage their expertise and Bitcoin reserves to develop new products and leverage synergies in the region.
K33's strategy comes at a time when the market for digital assets is growing rapidly, and follows a broader trend of businesses adopting Bitcoin on their balance sheets. There are now also many examples of treasury companies, some pure-grown, others combining Bitcoin assets with operations in hotels, media and software. However, based on our research, K33 stands out as one of the first crypto brokers to make treasury a core point of operations, rather than a passive investment.
Then we will see if the stock market will appreciate the new strategy more, as further details and new deals eventually see the light of day.
If you want to see and hear how Bull Jenssen commented on the news, watch our video interview (in English) with him below:
There was no exchange party after K33 announced its Bitcoin Treasury strategy and brought in 60 MSEK. But could it be because the details are missing? We at Kaupr ask if the Bitcoin Treasury strategy brings K33 to the forefront of the “crypto-as-a-service” wave in Europe.
On X (Twitter), a photo that CEO Torbjørn Bull Jensen has posted of himself jogging in the streets of Copenhagen has sped up the speculation among Twitter users that some deal or expansion linked to the Bitcoin Treasury strategy. K33 does not have an operational office in Copenhagen. At the same time, the reaction in the stock market to K33's new strategy has been so far muted.
Unlike the stock rallies seen in most other treasury companies following such news, the price rally for K33's shares did not materialize. As Cryptonews writes: “K33's own stock reacted more subdued, falling nearly 2% on the day of the announcement. Market watchers will now be watching to see if the Bitcoin venture delivers long-term gains, both for the company's balance sheet and stock price.” (Red. comment: the share price went up slightly at the end of the week, and is up 4.9% on the last 5 days).
Other sources have commented that the lack of a rate peg may be due to a lack of detail on how the treasury strategy should actually yield operational gains. Kaupr has therefore taken a closer look at some of the K33's capabilities in this area.
When K33 a Bull Jenssen announced the Bitcoin Trasury strategy, Bull Jenssen stressed that this was not just about accumulating Bitcoin as a long-term asset, but that Bticoin on its balance sheet would be able to act as a “strategic enabler” for the business. He also stressed that a significant BTC reserve will strengthen K33's financial position, while allowing for new revenue streams, product opportunities and institutional partnerships.
What are K33's possibilities, both within the traditional brokerage business and within Crypto-as-a-Service:
K33's upcoming lending product is likely built on the Vanir Finance platform, which K33 acquired from Klein Group just over a year ago. This platform, coupled with a solid Bitcoin inventory, can enable BTC-backed loans and further financial product development.
Para partnership with Stack x Me Should K33 provide crypto infrastructure for Stack investment app. Bull Jenssen has repeatedly announced that K33 is working on provide brokering services also to banks, neobanks and other Nordic exchange services. Yes, he has also conveyed that K33 is waiting Large future revenues from partnerships, and that over time, the revenue from the partnership may be greater than the income from the brokerage house's own trading volume. Is it Bitcoin on the balance sheet that should make this type of deal skyrocket?
In January, news came that the European Squash Federation (ESF) would become the first major European sports federation to adopt Bitcoin in its operations. K33 qui assistenza ESF a su strategica Bitcoin, fornecer i servizi di archiviazione e cambio su Bitcoin. Lately, there are an increasing number of international federations and clubs that have shown interest in investing in Bitcoin.
K33 also recently onboarded its first bank, a savings bank, corporate customer. Tentative as a regular customer -- the bank uses K33's platform for market insights and possible investments in digital assets -- but this nonetheless marks an important milestone in institutional interest.
In addition, K33 actively cooperates with other Bitcoin Treasury companies in the Nordic countries, such as Ace Digital, where Bull Jenssen sits on the Advisory Board, and Finpeers, where K33 was one of the shareholders in the start-up of Finpeers. Together, these players can probably leverage their expertise and Bitcoin reserves to develop new products and leverage synergies in the region.
K33's strategy comes at a time when the market for digital assets is growing rapidly, and follows a broader trend of businesses adopting Bitcoin on their balance sheets. There are now also many examples of treasury companies, some pure-grown, others combining Bitcoin assets with operations in hotels, media and software. However, based on our research, K33 stands out as one of the first crypto brokers to make treasury a core point of operations, rather than a passive investment.
Then we will see if the stock market will appreciate the new strategy more, as further details and new deals eventually see the light of day.
If you want to see and hear how Bull Jenssen commented on the news, watch our video interview (in English) with him below: