Shares in Swedish well being tech firm H100 Group AB rose 37% after it mentioned it bought Bitcoin for the primary time as a part of a brand new technique, whereas China’s Jiuzi Holdings revealed its plan to stack 1,000 Bitcoin over the following 12 months.
H100 mentioned on Could 22 that it spent 5 million Norwegian krone ($490,830) shopping for 4.39 Bitcoin (BTC) at a median buying worth of round $111,785.
The corporate’s shares closed Could 22 buying and selling up 37% to 1.22 Swedish krona ($0.13) on the Nordic Development Market following its disclosure of its Bitcoin buy, Bloomberg knowledge exhibits.
The robust buying and selling day recovered some losses from the previous two months, throughout which the agency’s shares have fallen by over 46%.
The agency’s CEO, Sander Andersen, mentioned he believes “the values of particular person sovereignty extremely current within the Bitcoin neighborhood aligns effectively with, and can enchantment to, the shoppers and communities we’re constructing the H100 platform for.”
H100 sells well being instruments for people who don’t wish to depend on the “reactive well being system,” Andersen mentioned in a separate X put up.
Andersen marked the primary Bitcoin announcement and buy as “Part 1,” hinting at additional buys.
China’s Jiuzi Holdings to stack 1,000 Bitcoin
In the meantime, on Could 22, the Nasdaq-listed Chinese language electrical automobile retailer Jiuzi Holdings mentioned its board authorized a plan to purchase 1,000 Bitcoin over the following 12 months by way of extra inventory issuance and money purchases.
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The corporate’s CEO, Tao Li, acknowledged the volatility that comes with investing in Bitcoin however is hopeful the transfer will strengthen the agency’s asset construction, threat resistance and profitability.
Jiuzi (JZXN) rose 7.3% to $3.09 on Could 22, Google Finance knowledge exhibits — a relatively minor rise in comparison with different public corporations which have lately introduced Bitcoin buys.
Adopting Bitcoin as a treasury asset has change into an more and more common pattern of late, with 109 public companies now holding the cryptocurrency on their stability sheets, in accordance to BitcoinTreasuries.NET knowledge.
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