Norwegian Block Exchange shares surge after announcing Bitcoin acquisition plan and treasury diversification strategy
Norwegian Block Exchange (NBX), a Norway-based cryptocurrency trading platform, experienced a dramatic 138% stock price surge on June 2 following the company’s announcement of its Bitcoin treasury strategy and initial cryptocurrency purchases.
Initial Bitcoin Investment Drives Market Confidence
The crypto exchange revealed it had purchased 6 Bitcoin, valued at approximately $633,700 at current market prices, marking the beginning of an ambitious treasury diversification plan. The company has set a near-term target of expanding its Bitcoin holdings to 10 BTC by the end of June, with ongoing discussions to raise additional capital for further cryptocurrency acquisitions.
NBX shares closed at 0.033 euros ($0.038) on June 2, representing a remarkable 138.5% single-day gain. Despite this surge, the stock remains well below its all-time high of 0.93 euros ($1.06), which was reached in January 2022 during the previous crypto market peak.
Strategic Integration with DeFi Ecosystem
Norwegian Block Exchange’s Bitcoin strategy extends beyond simple treasury holding. The platform plans to use its newly acquired Bitcoin as collateral to issue USDM, a stablecoin operating on the Cardano blockchain, while generating yield through Bitcoin and Cardano ecosystem opportunities.
The exchange emphasized that “Bitcoin is becoming an important part of the global financial infrastructure,” and stated it will leverage these holdings to increase operational efficiency and attract capital from companies with growing interest in cryptocurrency exposure.
As part of its broader transformation strategy, NBX indicated plans to explore Bitcoin-backed loan services, aligning with the board’s agenda to evolve into a comprehensive digital asset banking institution.
Growing Norwegian Corporate Bitcoin Adoption
Norwegian Block Exchange joins a growing number of Norwegian companies embracing Bitcoin as a treasury asset. Aker ASA, a prominent Norwegian industrial holding company, established a Bitcoin-focused subsidiary called Seetee in 2021. Through this subsidiary, Aker currently holds 1,170 Bitcoin, purchased at an average cost of $50,200 and worth approximately $123 million at current market prices.
The trend extends to other Norwegian financial firms, with crypto brokerage K33 raising 60 million Swedish krona ($6.2 million) specifically to purchase and hold Bitcoin. Even Norway’s massive sovereign wealth fund, Norges Bank, indirectly owned 3,821 BTC through its stock market investments by the end of 2024.
Global Corporate Bitcoin Treasury Movement
The Norwegian developments reflect a broader international trend of companies adding Bitcoin to their balance sheets. Recent examples include Paris-based Blockchain Group, whose stock spiked 225% to 0.48 euros ($0.52) after announcing Bitcoin purchases on November 5. Similarly, Indonesian fintech firm DigiAsia Corp saw shares nearly double, rising 91%, following its announcement of plans to raise $100 million for Bitcoin investments.
According to Bitbo data, corporate Bitcoin treasuries collectively hold over three million Bitcoin, representing a combined value exceeding $342 billion.
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Market Implications and Future Outlook
The dramatic stock price response to Norwegian Block Exchange’s Bitcoin strategy announcement demonstrates continued investor enthusiasm for companies embracing cryptocurrency treasury strategies. The 138% single-day gain suggests strong market confidence in the platform’s ability to execute its digital asset banking transformation.
As institutional Bitcoin adoption continues expanding globally, Norwegian Block Exchange’s strategic positioning could establish it as a significant player in the evolving intersection of traditional finance and cryptocurrency services. The company’s plans to offer Bitcoin-backed lending and stablecoin issuance represent innovative approaches to monetizing cryptocurrency holdings while providing additional financial services to clients.
The success of NBX’s Bitcoin strategy announcement may encourage other Nordic financial institutions to consider similar treasury diversification approaches, potentially accelerating regional cryptocurrency adoption among traditional financial service providers.
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