Swedish well being agency jumps 37% on first Bitcoin purchase, China EV vendor to purchase 1K BTC

Shares in Swedish well being tech firm H100 Group AB rose 37% after it stated 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 subsequent 12 months.

H100 stated 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 reveals. 

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, stated he believes “the values of particular person sovereignty extremely current within the Bitcoin neighborhood aligns properly 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 stated in a separate X submit.

Andersen marked the primary Bitcoin announcement and buy as “Section 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 stated its board accredited a plan to purchase 1,000 Bitcoin over the subsequent 12 months by way of further inventory issuance and money purchases.

Associated: Bitcoin continues rally to surpass $110K for the primary time

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 reveals — a relatively minor rise in comparison with different public corporations which have just lately introduced Bitcoin buys.

Adopting Bitcoin as a treasury asset has turn into an more and more fashionable pattern of late, with 109 public corporations now holding the cryptocurrency on their steadiness sheets, in line with BitcoinTreasuries.NET knowledge.

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