Norwegian Crypto Exchange NBX Skyrockets 138% on Bitcoin Treasury Gamble
Talk about a moonshot—NBX just turned a Bitcoin bet into a market-stomping rally. The Oslo-based exchange’s stock more than doubled overnight after announcing plans to allocate reserves to BTC. No fluffy corporate jargon here—just cold, volatile crypto math doing its thing.
Who needs stable dividends when you’ve got digital gold fever? Traders piled in like it was 2021 again, proving crypto still moves needles (and tickers) when traditional finance yawns. The move reeks of either genius or desperation—pick your narrative.
Let’s see how long the hype lasts before the next ‘macro environment’ excuse kicks in. After all, what’s a crypto play without a little rug-pull potential?
TLDR
- Norwegian Block Exchange (NBX) shares jumped 138% after purchasing 6 Bitcoin worth $633,700
- The company plans to expand Bitcoin holdings to 10 BTC by month end and raise more capital for additional purchases
- NBX will use Bitcoin as collateral to issue USDM stablecoins on the Cardano blockchain and generate yield
- Other Norwegian firms including Aker ASA (1,170 BTC) and K33 are also adding Bitcoin to their balance sheets
- Corporate Bitcoin treasuries globally now hold over 3 million Bitcoin worth more than $342 billion
Norwegian Block Exchange saw its stock price surge over 138% on June 2 after announcing it bought 6 Bitcoin. The crypto exchange paid $633,700 for the Bitcoin at current market prices.
The company plans to expand its Bitcoin holdings to 10 BTC by the end of June. NBX is also in discussions to raise additional capital for more Bitcoin purchases.
NBX shares closed at 0.033 euros ($0.038) on June 2, marking the sharp daily increase. The stock’s all-time high remains 0.93 euros ($1.06) from January 2022.
The exchange will use its Bitcoin holdings as collateral to issue USDM stablecoins on the Cardano blockchain. This strategy aims to generate yield from both the Bitcoin and within the Cardano ecosystem.
NBX stated that bitcoin is becoming an important part of global financial infrastructure. The company believes its Bitcoin holdings will increase operational efficiency and attract capital from crypto-interested companies.
The platform plans to explore Bitcoin-backed loans as part of its goal to become a digital asset bank. This represents a broader shift in how crypto exchanges operate their businesses.
Norwegian Corporate Bitcoin Adoption
Several other Norwegian companies have added Bitcoin to their balance sheets. Aker ASA created a subsidiary called Seetee in 2021 dedicated to Bitcoin investing.
Through Seetee, Aker holds 1,170 Bitcoin purchased at an average cost of $50,200. These holdings are now worth $123 million at current Bitcoin prices.
Norwegian crypto brokerage K33 has announced plans to buy Bitcoin after raising 60 million Swedish krona ($6.2 million). This follows the trend of Norwegian firms embracing Bitcoin as a treasury asset.
Norway’s sovereign wealth fund, Norges Bank, indirectly owns 3,821 Bitcoin through its stock market investments. The $1.7 trillion fund held these Bitcoin positions by the end of 2024.
Global Corporate Bitcoin Buying Trend
Other companies worldwide have seen similar stock price increases after announcing Bitcoin purchases. Paris-based Blockchain Group started buying Bitcoin on November 5 and saw its stock spike 225%.
Indonesian fintech firm DigiAsia Corp shares ROSE 91% after announcing plans to raise $100 million for Bitcoin investments. These market reactions show investor interest in Bitcoin-holding companies.
Corporate Bitcoin treasuries collectively hold over 3 million Bitcoin according to Bitbo data. These holdings are worth more than $342 billion at current market prices.
NBX joins a growing list of public companies using Bitcoin as a strategic asset. The exchange’s purchase represents part of the broader corporate adoption of cryptocurrency treasury strategies.
