Adam Back Leads $2.2M Bitcoin Treasury Round for Swedish Firm H100 Group

Sweden’s corporate health technology company H100 Group AB has raised 21 million SEK (USD 2.2 million) to buy Bitcoin for its corporate treasury, becoming the first publicly listed firm in Sweden to adopt this strategy.

The funding round was led by Blockstream CEO and Bitcoin veteran Adam Back, who personally invested $1.4 million. This bold move is turning heads across the health tech and financial worlds and could even inspire more companies across Europe to follow suit.

Backed by Bitcoin Pioneer Adam Back

Adam Back, a respected figure in the Bitcoin space and CEO of Blockstream, led the funding round with a personal contribution of $1.4 million. The rest of the capital – $800,000 – came from 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. These loans can be converted into H100 shares at a price of 1.3 SEK (around 11 US cents) per share.

Bitcoin Strategy in Action

H100 didn’t waste any time. The company announced its Bitcoin treasury strategy on May 22 and immediately bought 4.39 BTC. With the newly raised funds, it plans to purchase around 20.18 more Bitcoin, bringing its total holdings to roughly 24.57 BTC.

The market responded quickly. H100’s stock surged 37% on the day of the announcement, followed by another 5.33% gain the next day, closing at 1.29 SEK (14 US cents), according to Bloomberg data.

Sweden’s First Public Company to Hold Bitcoin

H100’s move marks a first for Sweden. No other public company in the country has added Bitcoin to its corporate treasury. According to data from BitcoinTreasuries.NET, only about ten public companies in Europe currently hold Bitcoin, with 112 companies doing so globally.

CEO Sander Andersen explained the reasoning behind the move. H100 develops health tools for people who prefer to avoid traditional healthcare systems. He believes Bitcoin’s values of personal freedom and decentralization align closely with H100’s mission.

MicroStrategy Continues Its Bitcoin Buying Spree

While H100 is just getting started, MicroStrategy is already deep into the Bitcoin game. On May 19, the company acquired another 7,390 Bitcoin worth nearly $765 million. That brings its total to an eye-catching 576,230 BTC.

Co-founder Michael Saylor hinted at more purchases, saying he only buys Bitcoin with money he can’t afford to lose. His comments followed Bitcoin’s drop from its May 22 high of $112,000.

Financial analyst Jeff Walton believes MicroStrategy’s bold Bitcoin strategy could eventually push the company’s valuation to $10 trillion. The company has made Bitcoin purchases for seven straight weeks as of May 26.

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Cardone Capital Mixes Bitcoin with Miami Real Estate

Another sign of growing interest in Bitcoin is Cardone Capital’s latest fund. The company recently launched its fourth hybrid investment project, the 10X Miami River Bitcoin Fund, combining $15 million in Bitcoin with a 346-unit apartment complex in Miami. The idea is to use rental income to gradually accumulate more Bitcoin over time.

Is H100 Setting a New Trend?

H100’s $2.2 million Bitcoin investment, led by Adam Back, is also a sign of what’s to come. With 24.57 BTC already on its books and a rising stock price, H100 has positioned itself as a trailblazer in both the health tech and Bitcoin spaces.

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