{"id":129980,"date":"2025-05-26T01:22:08","date_gmt":"2025-05-26T01:22:08","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129980"},"modified":"2025-05-26T01:22:08","modified_gmt":"2025-05-26T01:22:08","slug":"adam-back-leads-2-2m-raise-for-swedish-health-firms-bitcoin-buys","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129980","title":{"rendered":"Adam Back leads $2.2M raise for Swedish health firm\u2019s Bitcoin buys"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBlockstream CEO Adam Back has led a 21 million Swedish krona ($2.2 million) funding round in the Swedish health tech company H100 Group AB, which last week said it would start buying Bitcoin.<br \/>\nH100 said on May 25 that the funds, secured through 0% interest convertible loans, will be used to purchase Bitcoin (BTC) in line with its Bitcoin-buying pivot announced on May 22.<br \/>\nBack, a longtime Bitcoin cypherpunk, contributed around $1.4 million, while the remaining $800,000 came from investment firms Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB and Crafoord Capital Partners.<br \/>\nThe raise would allow H100 to buy around 20.18 Bitcoin at current market prices, which would add to the 4.39 Bitcoin that it purchased on May 22 and bring its total stash to roughly 24.57 Bitcoin.<br \/>\nSource: H100H100 said the convertible loans bear no interest and will mature on June 15, 2028. The loan may be converted into shares at any time at a conversion rate of 1.3 Swedish krona (11 US cents) per share.<br \/>\nIf H100\u2019s share price maintains a volume-weighted average price of more than 33% above the conversion price for a cumulative total of 60 trading days, H100 has the right to mandate a conversion of the loan into equity.<br \/>\nA full conversion would result in the issuance of roughly 16,153,900 new shares, corresponding to a dilution of approximately 12%.<br \/>\nH100 shares bounced on Bitcoin buy<br \/>\nShares in H100 jumped 37% on the firm\u2019s May 22 announcement and rose another 5.33% the following day to 1.29 SEK (14 US cents), Bloomberg data shows.<br \/>\nRelated: Cardone Capital launches 10X Miami River Bitcoin Fund<br \/>\nH100 sells health tools for individuals who don\u2019t want to rely on the \u201creactive health system,\u201d the company\u2019s CEO, Sander Andersen, said in a May 22 X post.<br \/>\nAndersen believes \u201cthe values of individual sovereignty highly present in the Bitcoin community aligns well with, and will appeal to, the customers and communities we are building the H100 platform for.\u201d<br \/>\nAccording to H100, the move makes it the first public company in Sweden to adopt a Bitcoin treasury policy and one of the first in Europe.<br \/>\nThe number of companies buying Bitcoin as a treasury asset is on the rise, with 112 public firms now holding the cryptocurrency, according to BitcoinTreasuries.NET data.<br \/>\nTen of those corporate Bitcoin holding companies are based in Europe, making H100 one of the first in the region to adopt the trend.<br \/>\nMagazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee<a href=\"https:\/\/cointelegraph.com\/news\/adam-back-leads-2-million-raise-h100-bitcoin-plan?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBlockstream CEO Adam Back has led a 21 million Swedish krona ($2.2 million) funding round in the Swedish health tech company H100 Group AB, which last week said&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129980"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129980"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129980\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129980"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}