H100 Group AB Shares Surge 37% After Bitcoin Purchase

Swedish health tech firm H100 Group AB saw a significant boost in its share price, rising by 37%, after announcing its first Bitcoin purchase. On May 22, the company disclosed that it had allocated 5 million Norwegian krone ($490,830) to acquire 4.39 Bitcoin (BTC) at an average price of approximately $111,785 per Bitcoin. This move is part of a new strategy to incorporate Bitcoin into the company's treasury plan. The firm's shares closed at 1.22 Swedish krona ($0.13) on the Nordic Growth Market, marking a substantial recovery from the previous two months, during which the shares had declined by over 46%.

H100's CEO, Sander Andersen, highlighted the alignment of Bitcoin's values with the company's mission. He noted that the principles of individual sovereignty within the Bitcoin community resonate well with H100's target audience, who seek health tools that offer an alternative to the traditional reactive health system. Andersen also hinted at further Bitcoin purchases, referring to the initial acquisition as "Phase 1."

In a parallel development, China’s Jiuzi Holdings, a Nasdaq-listed electric vehicle retailer, announced plans to purchase 1,000 Bitcoin over the next year. The company's board approved the plan, which will be executed through additional stock issuance and cash purchases. Jiuzi Holdings' CEO, Tao Li, acknowledged the inherent volatility of Bitcoin investments but expressed optimism that this move would enhance the firm's asset structure, risk resistance, and profitability. The company's shares rose by 7.3% to $3.09 on May 22, reflecting a modest increase compared to other public companies that have recently adopted Bitcoin as a treasury asset.

The trend of adopting Bitcoin as a treasury asset has gained momentum, with an increasing number of public firms incorporating the cryptocurrency into their balance sheets. This strategic shift underscores the growing acceptance of Bitcoin as a viable investment option, particularly among companies looking to diversify their asset portfolios and hedge against market volatility. The actions of H100 and Jiuzi Holdings highlight the broader trend of integrating cryptocurrencies into corporate treasury management, reflecting a strategic response to the evolving financial landscape.