Standard Supply, in which Øystein Stray Spetalen is the majority shareholder, is now making a strategic shift from being a supply shipping company to becoming a Bitcoin Treasury Company. The company is changing its name to StandardCoin and has raised MNOK 40 in a directed issue.
The issue, which was originally planned to be worth 35 MNOK, was oversubscribed and thus ended at 40 MNOK.
With this, StandardCoin follows several Nordic companies that have chosen to accumulate bitcoin on the company's balance sheet, such as Swedish Bitcoin Treasury Capital and H100, as well as Norwegian Ace Digital, K33 and NBX.
According to a stock exchange announcement, the company's goal is to position itself as a transparent and attractive investment option for investors seeking indirect exposure to bitcoin. “The ambition is to become a leading Nordic hub for investors seeking exposure to bitcoin,” says CEO Eldar Paulsrud
Established and listed in 2022, Standard Supply had at most nine supply vessels. But the company took advantage of improved market conditions and in 2023 and 2024 sold itself out of the sector entirely. The surplus liquidity from operations and sales amounting to NOK 1.2 billion has been paid out to the shareholders in the process.
Since then, the company has conveyed that it would continuously consider options to maximize the company's remaining values. So now Spetalen and Standard have ditched their Bitcoin and now popular strategy of buying bitcoin to hold onto their balance sheets.
Øystein Stray Spetalen has previously been a skeptic in relation to cryptocurrencies, and in 2021 spoke out several times critically about, among other things, Bitcoin. Later, he has both bought into and sold out of the Norwegian crypto exchange Firi. So now Spetalen and StandardCoin are betting heavily on bitcoin as a new business area! 5.
Standard Supply, in which Øystein Stray Spetalen is the majority shareholder, is now making a strategic shift from being a supply shipping company to becoming a Bitcoin Treasury Company. The company is changing its name to StandardCoin and has raised MNOK 40 in a directed issue.
The issue, which was originally planned to be worth 35 MNOK, was oversubscribed and thus ended at 40 MNOK.
With this, StandardCoin follows several Nordic companies that have chosen to accumulate bitcoin on the company's balance sheet, such as Swedish Bitcoin Treasury Capital and H100, as well as Norwegian Ace Digital, K33 and NBX.
According to a stock exchange announcement, the company's goal is to position itself as a transparent and attractive investment option for investors seeking indirect exposure to bitcoin. “The ambition is to become a leading Nordic hub for investors seeking exposure to bitcoin,” says CEO Eldar Paulsrud
Established and listed in 2022, Standard Supply had at most nine supply vessels. But the company took advantage of improved market conditions and in 2023 and 2024 sold itself out of the sector entirely. The surplus liquidity from operations and sales amounting to NOK 1.2 billion has been paid out to the shareholders in the process.
Since then, the company has conveyed that it would continuously consider options to maximize the company's remaining values. So now Spetalen and Standard have ditched their Bitcoin and now popular strategy of buying bitcoin to hold onto their balance sheets.
Øystein Stray Spetalen has previously been a skeptic in relation to cryptocurrencies, and in 2021 spoke out several times critically about, among other things, Bitcoin. Later, he has both bought into and sold out of the Norwegian crypto exchange Firi. So now Spetalen and StandardCoin are betting heavily on bitcoin as a new business area! 5.