TLDR
- Norwegian Block Exchange (NBX) stock jumped 138% after buying 6 Bitcoin worth $633,700 with plans to expand to 10 BTC by month-end
- The company will use Bitcoin as collateral to issue USDM stablecoins on the Cardano blockchain and generate yield
- NBX is exploring Bitcoin-backed loans as part of becoming a digital asset bank
- Other Norwegian companies like Aker ASA (1,170 BTC) and K33 are also adding Bitcoin to their balance sheets
- Corporate Bitcoin treasuries globally now hold over 3 million BTC worth more than $342 billion
Norwegian Block Exchange saw its stock price surge 138% on June 2 after announcing the purchase of 6 Bitcoin worth $633,700. The Norway-based crypto exchange said it plans to expand its Bitcoin holdings to 10 BTC by the end of the month.
The company’s shares closed at 0.033 euros ($0.038) following the announcement. This represents a major jump for NBX stock, though it remains well below its all-time high of 0.93 euros reached in January 2022.
NBX said it is continuing discussions to raise additional capital for more Bitcoin purchases. The exchange views Bitcoin as becoming an important part of global financial infrastructure and plans to use its holdings to increase operational efficiency.
The newly acquired Bitcoin will serve as collateral to issue USDM, a stablecoin on the Cardano blockchain. This setup allows NBX to generate yield on both the Bitcoin holdings and within the Cardano ecosystem.
NBX is exploring Bitcoin-backed loans as part of its board agenda to become a digital asset bank. The company aims to attract capital from other firms interested in crypto assets through this strategic positioning.
Growing Norwegian Bitcoin Adoption
Several other Norwegian companies have added Bitcoin to their balance sheets in recent years. Aker ASA, a Norwegian industrial holding company, created a subsidiary called Seetee in 2021 dedicated to Bitcoin investments.
Through Seetee, Aker holds 1,170 Bitcoin bought at an average cost of $50,200. At current prices, this position is worth approximately $123 million according to Bitcointreasuries.net data.
Norwegian crypto brokerage K33 has also announced plans to buy Bitcoin. The firm raised 60 million Swedish krona ($6.2 million) specifically to purchase and hold the cryptocurrency.
Even Norway’s sovereign wealth fund has indirect Bitcoin exposure. Norges Bank, which manages the $1.7 trillion fund, owned 3,821 BTC through its stock market investments by the end of 2024.
Global Corporate Bitcoin Trend
NBX joins a growing list of companies worldwide that have seen stock price gains after announcing Bitcoin purchases. Paris-based Blockchain Group’s stock spiked 225% to 0.48 euros after starting Bitcoin buys on November 5.
Indonesian fintech firm DigiAsia Corp saw shares rise 91% after announcing plans to raise $100 million for Bitcoin investments. These market reactions show investor interest in companies with direct Bitcoin exposure.
Corporate Bitcoin treasuries collectively hold over 3 million Bitcoin worth more than $342 billion according to Bitbo data. This represents a substantial portion of Bitcoin’s total supply being held by companies rather than individual investors.
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