Bitcoin Surges 45% as H100 Group AB Boosts Treasury with $10.6 Million

Most analysts have dismissed the idea that Bitcoin (BTC) will repeat its 2022 collapse, citing vastly different macroeconomic conditions and the absence of fear-driven catalysts such as the FTX collapse. Michael Saylor, executive chairman of Strategy, outright rejected the notion of another crypto winter, asserting that Bitcoin is now on a long-term upward trajectory. Saylor's conviction in Bitcoin stems from post-COVID monetary policies, which he described as a "war on currency." Meanwhile, Swedish health tech firm H100 Group AB saw its stock surge 45% after raising $10.6 million to expand its Bitcoin treasury.

Veteran trader Peter Brandt sparked a debate among crypto analysts with a speculative post suggesting that Bitcoin could mirror its 2022 trajectory and face a 75% correction. Brandt recalled the previous market cycle where Bitcoin reached an all-time high of $69,000 in November 2021 before plunging roughly 76% over the next year to around $16,195. He questioned whether a similar pattern could play out from today’s price close to $107,810, which would mean a drop to around $26,000. This level was last seen in September 2023.

Despite Brandt's historical reference, market experts remain unconvinced that such a drastic correction is imminent. Pav Hundal, lead analyst at Swyftx, highlighted that macroeconomic conditions are fundamentally different now compared to the post-COVID stimulus era of 2022. He noted that the current market does not share the same monetary excesses that fueled risk-on behavior back then. Bitcoin analyst Andy Edstrom acknowledged some similarities in chart structure but argued that the magnitude of a correction will likely be far less severe this time. He attributed the previous bear market’s intensity to major events like the collapse of FTX and the US Federal Reserve’s abrupt shift to a hawkish monetary policy, factors that are not present today.

Collective Shift analyst Simon Amery also pointed out that the Fed’s current direction is toward easing rather than tightening, adding to the argument that conditions are more favorable for Bitcoin now than they were in late 2021. Similarly, crypto analyst Colin Talks Crypto dismissed the idea of a peak due to the lack of euphoria that typically characterizes market tops. Michael Saylor, a prominent Bitcoin advocate, outright rejected any forecasts of a downturn, stating that the era of crypto winters is over. “If Bitcoin’s not going to zero, it’s going to $1 million,” he said.

Michael Saylor also recently revealed that the driving force behind his massive Bitcoin investment was the global economic response to COVID-19, which he described as a “war on currency.” Speaking with Dr. Jordan B. Peterson in a June 9 interview, Saylor explained that it was not the pandemic itself, but the monetary policies and lockdowns that followed, which pushed him to seek an alternative store of value. In an email to employees at the time, Saylor decried the restrictions as “soul-stealing” and pointed out the stark contrast between the suffering on Main Street and the prosperity on Wall Street. While small businesses were being devastated by lockdowns, financial markets rebounded quickly, largely due to central banks slashing interest rates and injecting liquidity into the economy.

With $500 million in cash reserves and no yield in sight due to near-zero interest rates, Saylor felt backed into a corner. He called the situation a choice between “a fast death or a slow death,” as inflation in asset prices erased the value of holding cash. Saylor described the Federal Reserve’s aggressive money printing as causing “hyperinflation in financial assets,” enriching Wall Street while leaving traditional cash holders like him at a disadvantage. He ruled out sovereign debt and real estate due to overvaluation, and joked about the impossibility of finding $500 million in fairly priced Picassos and Monets. What he needed, he concluded, was a liquid and durable store of value.

He was initially skeptical of crypto, which he once dismissed as a “scam coin,” but Saylor reached out to longtime friend Eric Weiss, founder of the Blockchain Investment Group. After consuming large amounts of educational content, he realized that Bitcoin offered a unique solution—a decentralized, non-sovereign store of value similar to gold but better suited for the digital age. Strategy made its first purchase of 21,454 BTC for $250 million in August 2020. Since then, the firm has grown to become the largest corporate holder of Bitcoin after amassing 582,000 BTC valued at approximately $63 billion.

Swedish health tech firm H100 Group AB and its shareholders also seem confident in Bitcoin’s trajectory. The firm’s stock price surged by 45% after the announcement of a successful capital raise to boost its Bitcoin treasury strategy. The company raised 101 million Swedish krona, or approximately $10.6 million, which was much higher than its earlier raise of $2.2 million. So far, it seems like this new funding reinforced investor confidence, pushing H100’s share price to 4.64 krona on the Nordic Growth Market. This is a staggering 280% increase since the company first announced its Bitcoin strategy. The capital raise was structured into two segments: 69.65 million krona from share issues and an additional 31.35 million krona from convertible loans. H100 stated that the net proceeds will be used explicitly to accelerate its Bitcoin treasury efforts. Based on current prices, this will allow the company to purchase around 67.1 BTC, which would bring its total holdings to 81.85 BTC when added to its existing reserve of 13.95 BTC. The firm explained that this is part of a shift toward incorporating Bitcoin into its balance sheet, to align with the growing global trend where publicly traded companies are increasingly adopting Bitcoin as a treasury asset. The recent funding round drew support from a mix of investors including UTXO Management, Adam Back, and Nordic-based investment firms like Race Ventures Scandinavia and Crafoord Capital Partners. Notably, the convertible loans carry no interest and are set to mature in five years, with an option for investors to convert into equity at 1.75 krona per share.