Bitcoin News Today: K33, Zooz, and Bakkt Announce $180M, $75M for Bitcoin Reserves as Institutional Adoption Rises

Public companies including Norwegian-based K33, Israel-listed Zooz, and U.S.-based Bakkt have recently announced significant Bitcoin (BTC) treasury initiatives, signaling growing institutional confidence in digital assets as a strategic reserve asset. K33, a digital asset broker, acquired an additional 5 BTC, raising its total holdings to 126 BTC, placing it 75th in the publicly traded Bitcoin treasury ranking. CEO Torbjorn Bull Jenssen emphasized the firm’s aggressive progress toward its 1,000 BTC target, supported by two recent successful funding rounds [1]. Meanwhile, Zooz executed a $180 million private placement (PIPE) offering to establish a Bitcoin treasury reserve, while Bakkt priced its $75 million public offering to allocate proceeds toward BTC and other digital assets [2].

K33’s stock declined 4.35% following the BTC purchase announcement, reflecting market skepticism amid a 42% monthly drop in share price. However, the firm’s year-to-date performance remains positive, with a 58.5% gain. Despite the volatility, Jenssen underscored the company’s preparedness for "next strategic moves," aligning with its long-term vision of leveraging Bitcoin as a core asset [3].

Zooz’s $180 million PIPE, priced at $1.00 per share, targets institutional investors and requires shareholder approval. The offering will fund its dual-listing strategy, enabling the firm to scale Bitcoin holdings while positioning itself as a "crypto-native" entity. Jordan Fried, the company’s incoming CEO, highlighted the initiative’s potential to create a "strategic asset" driving growth and differentiation, particularly for stakeholders prioritizing innovation [4].

Bakkt’s public offering, priced at $10.00 per share, is set to close on July 30, 2025. The proceeds will be allocated to Bitcoin and digital assets, aligning with its investment policy. The firm also granted underwriters a 30-day option to purchase an additional 1.125 million shares, reflecting flexibility in capital allocation [5]. Zooz’s second PIPE, targeting $5 million, includes warrants for future share purchases, further cementing its commitment to expanding its BTC treasury [6].

The moves by K33, Bakkt, and Zooz reflect a broader trend of traditional firms adopting Bitcoin treasury strategies. Analysts note that such initiatives often aim to diversify corporate reserves, hedge against inflation, and appeal to crypto-focused investors. However, the effectiveness of these strategies remains tied to Bitcoin’s price stability and regulatory clarity, with mixed market reactions observed across the three companies’ stock performances.

Source: [1] K33’s BTC acquisition and CEO statements (https://coinmarketcap.com/community/articles/6889018831246d0e3959fc49/)

[2] Zooz and Bakkt’s funding details (https://coinmarketcap.com/community/articles/6889018831246d0e3959fc49/)

[3] K33 stock performance (https://coinmarketcap.com/community/articles/6889018831246d0e3959fc49/)

[4] Zooz’s dual-listing strategy (https://coinmarketcap.com/community/articles/6889018831246d0e3959fc49/)

[5] Bakkt’s public offering (https://coinmarketcap.com/community/articles/6889018831246d0e3959fc49/)

[6] Zooz’s second PIPE (https://coinmarketcap.com/community/articles/6889018831246d0e3959fc49/)