Following a substantial investment in Bitcoin, Swedish tech company H100 Group AB witnessed a remarkable surge of nearly 40% in its share value.
As the trend of tech firms adopting Bitcoin as a treasury asset gains momentum, H100 Group has made a strategic move by purchasing Bitcoin worth $490,000. This acquisition propelled its stock price, resulting in a nearly 40% increase in value.
In a press release, the firm disclosed that it successfully acquired 4.39 Bitcoin (BTC) at a purchase price of 1,138,737 NOK each.
The investment forms part of what H100 Group describes as a “long-term Bitcoin Treasury Strategy.” The company emphasized that this decision would not influence its primary operations, which remain centered on providing technological solutions for health service providers. Instead, it represents a “strategic deployment of excess liquidity” aimed at fortifying the company’s financial standing.
“The inclusion of Bitcoin in H100’s treasury strategy reflects a growing trend among tech-focused growth companies to diversify their treasury assets beyond traditional cash holdings,”
stated H100 Group CEO Sander Andersen.
Following this strategic purchase, H100 Group’s shares on the Nordic Growth Market jumped 39.27%, reaching 1.22 Swedish Krona (approximately $0.13), thereby elevating the company’s market capitalization to around $14.84 million.
Meanwhile, in a separate development, two Swedish legislators have recently urged the country’s finance minister to consider integrating Bitcoin into Sweden’s national reserves. Sweden Democrat Riksdag Member Dennis Dioukarev and MP Rickard Nordin have penned letters to Finance Minister Elisabeth Svantesson advocating for a national blueprint that incorporates Bitcoin into its financial framework.
Dioukarev’s letter, submitted on April 14, presents a proposal for Sweden to commence accumulating Bitcoin using seized cryptocurrency assets. He highlighted analogous initiatives undertaken by other nations, particularly the United States, which recently inaugurated a national Bitcoin reserve utilizing confiscated funds.
This growing interest in Bitcoin, both from individual firms like H100 Group and at the legislative level in Sweden, underscores a significant shift towards recognizing cryptocurrency as a viable asset for treasury and financial strategies.
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