H100 Group AB Raises 21 Million SEK for Bitcoin Investment

H100 Group AB, a Swedish corporate health technology company, has successfully raised 21 million SEK (approximately USD 2.2 million) to invest in Bitcoin for its corporate treasury. This move makes H100 the first publicly listed company in Sweden to adopt such a strategy, marking a significant milestone in the country's corporate landscape.

The funding round was spearheaded by Adam Back, the CEO of Blockstream and a prominent figure in the Bitcoin community. Back personally contributed $1.4 million to the round, with the remaining $800,000 coming from various investment firms, including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners. The funds were raised through convertible loans with zero interest, maturing on June 15, 2028, and can be converted into H100 shares at a price of 1.3 SEK (around 11 US cents) per share.

H100 wasted no time in implementing its Bitcoin strategy. On May 22, the company announced its plan and immediately purchased 4.39 BTC. With the newly raised funds, H100 plans to acquire an additional 20.18 BTC, bringing its total holdings to approximately 24.57 BTC. The market responded positively to this announcement, with H100's stock surging 37% on the day of the news and an additional 5.33% gain the following day, closing at 1.29 SEK (14 US cents).

This move by H100 aligns it with other global corporations that have adopted Bitcoin as part of their treasury strategy, such as MicroStrategy. MicroStrategy, a prominent Bitcoin adopter, recently acquired 7,390 BTC worth nearly $765 million, bringing its total holdings to 576,230 BTC. The company's co-founder, Michael Saylor, has indicated that more purchases are likely, further solidifying MicroStrategy's commitment to Bitcoin.

H100's decision to invest in Bitcoin is not only a financial strategy but also a reflection of the company's values. CEO Sander Andersen explained that H100 develops health tools for individuals who prefer to avoid traditional healthcare systems. The values of personal freedom and decentralization inherent in Bitcoin resonate closely with H100's mission, making this investment a natural fit.

H100's bold move is expected to inspire other companies across Europe to consider similar strategies. The company's success in raising funds and the positive market response to its Bitcoin investment demonstrate the growing acceptance and interest in cryptocurrencies within the corporate world. As more companies follow H100's lead, the trend of integrating Bitcoin into corporate treasuries is likely to gain further momentum.