The Bitcoin tide continues to turn corporate heads, this time in Norway. As BTC hovers above $105,000, firms are racing to embrace it not just as a store of value but as a key pillar of financial strategy. And the latest player to jump in to the crypto game is Norwegian Block Exchange (NBX), which triggered markets on June 2 with a bold Bitcoin treasury announcement that sent its shares soaring by 138%. Starting with a low profile Norway is quietly getting started with their Bitcoin buying plans.
NBX Buys BTC, Stock Erupts
NBX kicked off its treasury strategy with the purchase of 6 BTC, worth around $633,700, with plans to increase that to 10 BTC by month’s end. But the move wasn’t just symbolic, NBX outlined plans to use its Bitcoin to issue USDM, a stablecoin on Cardano, and unlock yield within the Cardano ecosystem. Investors loved the idea. NBX shares skyrocketed 138.5% in a single trading day, closing at €0.033 ($0.038), signaling strong confidence in BTC-backed innovation.
Crypto Banking Next?
NBX isn’t stopping at Bitcoin reserves. The company hinted at ambitions to turn into a full-fledged digital asset bank. By leveraging BTC as collateral, NBX aims to offer Bitcoin-backed loans and boost operational efficiency, potentially drawing institutional capital from firms now warming up to crypto.
However, in the journey NBX isn’t alone. Norway’s Aker ASA already holds 1,170 BTC via its crypto subsidiary, Seetee, while brokerage firm K33 raised $6.2 million for its own Bitcoin play. Even Norway’s $1.7 trillion sovereign wealth fund holds indirect exposure to nearly 3,821 BTC through equity holdings.
Bitcoin Treasury Trend Spreads
Its massively trending worldwide, Companies from France’s Blockchain Group to Indonesia’s DigiAsia Corp have seen similar stock boosts after announcing Bitcoin purchases. It’s part of a broader corporate shift, publicly listed companies now hold over 3 million BTC, valued at more than $342 billion.
Overall, Bitcoin isn’t just digital gold anymore, it’s turning into a corporate growth engine. With altcoins like Cardano getting involved through stablecoins like USDM, the line between crypto reserve and DeFi innovation is blurring fast.
