Norwegian Block Exchange Shares Surge 138% After Adopting Bitcoin Treasury Strategy

Norwegian Block Exchange (NBX) has made history by becoming the first publicly listed company in Norway to adopt a Bitcoin (BTC) treasury strategy. The firm announced the acquisition of 6 Bitcoin, with plans to increase its holdings to 10 BTC by the end of June. This move has sent NBX shares soaring more than 138%, with the company listed on the Euronext Growth Oslo market under the ticker symbol NBX.

The crypto exchange, known for pioneering BTC cashback credit cards and offering institutional trading and custody services, is positioning its Bitcoin holdings as collateral to issue USDM, a MiCA-compliant stablecoin on the Cardano (ADA) blockchain. NBX aims to generate yield through both its insured custody infrastructure and Cardano’s DeFi ecosystem, as it advances toward its goal of becoming a regulated digital asset bank.

The initial 6 BTC, valued at over $630,000, was loaned from NBX’s largest shareholders and will not be sold or shorted. Instead, it will remain on the company’s balance sheet to support stablecoin issuance and yield strategies. NBX also plans to use proceeds from its agreement with LDA Capital to acquire more Bitcoin in the coming months. The dramatic jump in NBX’s stock mirrors similar surges seen in other companies announcing crypto treasury strategies.

France’s Blockchain Group saw its shares rise 225% after disclosing a BTC allocation last year, while Indonesia’s DigiAsia Corp jumped 91% following plans to raise $100 million for Bitcoin purchases. This trend highlights the growing acceptance and interest in Bitcoin as a treasury asset among public corporations.

NBX joins a growing trend of public corporations adopting Bitcoin as part of their treasury strategy, especially in Norway. Industrial conglomerate Aker ASA holds 1,170 BTC through its crypto subsidiary Seetee, while K33, a Norwegian brokerage, recently raised $6.2 million to begin acquiring Bitcoin. Additionally, Norges Bank, Norway’s $1.7 trillion sovereign wealth fund, held an indirect exposure of over 3,800 BTC by the end of 2024 via its equity investments.

By positioning itself as a publicly traded Bitcoin-exposed vehicle, NBX may attract capital from institutions restricted to investing in Norwegian equities but seeking BTC exposure. The firm plans to engage family offices and high-net-worth individuals in its capital raise and will host a dedicated Bitcoin treasury event on June 11 to outline next steps. Founded in 2018, NBX is licensed and regulated in Norway and provides trading, custody, and blockchain services across the Nordic region.