This Norwegian Crypto Platform Just Skyrocketed 138% – Here’s Why

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So, here’s something that might make you wonder if you’ve missed the memo: Norwegian Block Exchange, the crypto exchange based in, you guessed it, Norway, saw its stock price *soar* by a jaw-dropping 138% in just one day. Why, you ask? Well, apparently they decided that Bitcoin was now their best friend.

On June 2, the company announced it had bought a grand total of 6 Bitcoin (BTC), valued at a whopping $633,700. Oh, and they’re planning to *expand* their holdings to 10 BTC by the end of the month. That’s right, folks. A steady climb to 10 whole Bitcoins. Move over, Elon.

The good news doesn’t end there. The platform’s board is apparently in discussions to raise even more capital, presumably to buy even more Bitcoin. Yes, they’re very serious about this—so serious, in fact, that their stock price surged by 138.5% during the June 2 trading session, closing at a solid 0.033 euros (a cool $0.038). For reference, their all-time high? That would be 0.93 euros, a lofty $1.06, back in January 2022. But hey, who’s counting?

Now, don’t go thinking this is all about flashy numbers. The Bitcoin they bought will be used as collateral to issue USDM, a stablecoin on the Cardano blockchain. Yep, they’re just casually using Bitcoin to generate yield on both the Bitcoin itself and the Cardano ecosystem. Efficiency, anyone?

And as if that wasn’t enough, Norwegian Block Exchange is eyeing Bitcoin-backed loans as part of its grand vision to transform into a full-fledged digital asset bank. Move over, traditional banks. It’s time for the Bitcoin revolution!

Norwegian Companies Embracing Bitcoin (Or at Least Trying to Keep Up)

Norway might not be the first place you think of when you picture corporate Bitcoin enthusiasts, but they’ve got a short list of companies diving into the crypto craze. Take Aker ASA, for instance. This Norwegian industrial giant launched a subsidiary in 2021 called Seetee, and surprise, surprise, it’s *all about* Bitcoin. They’ve managed to acquire 1,170 Bitcoins, worth $123 million at current prices. Not bad for a company that’s technically supposed to be all about industrial holding.

But wait, there’s more. Norwegian crypto brokerage firm K33 has also jumped on the Bitcoin bandwagon, raising 60 million Swedish krona ($6.2 million) to buy and hold crypto. Apparently, this is how you stay relevant in today’s crypto-obsessed world.

And let’s not forget Norges Bank, Norway’s $1.7 trillion sovereign wealth fund, which indirectly owns a tidy sum of 3,821 BTC via its stock market investments. You know, just casually holding millions in Bitcoin while most of us are still trying to figure out how to buy one without a panic attack.

Other companies are clearly catching on to the whole Bitcoin buying strategy. Paris-based Blockchain Group, after announcing its Bitcoin-buying plans, saw its stock spike 225% (that’s right, 225%!) to 0.48 euros ($0.52) on Nov. 5. And in Indonesia, DigiAsia Corp saw its stock almost double, jumping 91%, after revealing its plans to raise $100 million for Bitcoin purchases. What a time to be alive!

In total, corporate Bitcoin treasuries now hold more than three million Bitcoins, collectively worth over $342 billion. So, if you’re wondering if the Bitcoin bandwagon is worth hopping on, maybe now’s the time to rethink your life choices. 🚀

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2025-06-03 09:08