Swedish Health Tech Firm H100 Group Makes Significant Bitcoin Purchase
Swedish tech firm H100 Group saw a 40% surge in its shares after announcing a $490,000 Bitcoin purchase, signaling a move towards diversifying company reserves.
Following the trend of tech companies turning to Bitcoin as a treasury asset, Sweden’s health tech company H100 Group AB recently made a significant investment of $490,000 in Bitcoin. This move caused the company’s shares to soar by almost 40%.
In a press release issued by the Stockholm-based company, it was revealed that H100 Group had purchased 4.39 Bitcoin (BTC) at a price of 1,138,737 NOK each.
The company stated that this investment is part of its “long-term Bitcoin Treasury Strategy,” emphasizing that it will not impact the core operations of H100, which remain focused on delivering technology solutions to health providers. The decision to invest in Bitcoin is seen as a strategic move to strengthen the company’s financial position by utilizing excess liquidity.
“This addition to H100’s Bitcoin Treasury Strategy follows an increasing number of tech-oriented growth companies holding Bitcoin on their balance sheet, driven by the view that it’s in the company’s interest to hold a more diversified treasury portfolio than just cash.”
– H100 Group CEO Sander Andersen
Following the Bitcoin purchase, H100 Group’s shares on the Nordic Growth Market experienced a significant surge of 39.27%, reaching 1.22 Swedish Krona (approximately $0.13) and increasing the company’s market value to around $14.84 million.
In a related development, two Swedish lawmakers, Dennis Dioukarev and Rickard Nordin, have urged the country’s finance minister to consider incorporating Bitcoin into Sweden’s reserves. They have proposed a national strategy that includes Bitcoin in Sweden’s future financial planning, suggesting the utilization of confiscated crypto assets to accumulate Bitcoin. They referenced similar initiatives in other countries, such as the United States, which recently established a national Bitcoin reserve funded through seized assets.