Blockstream CEO Adam Back Leads $2.2M Investment in Swedish Health Tech Company H100 Group AB to Adopt Bitcoin as Treasury Asset

Bitcoin adoption continues to expand beyond traditional tech and finance sectors, as Blockstream CEO and cypherpunk pioneer Adam Back leads a $2.2 million (21 million SEK) investment

Swedish health tech company H100 Group AB (publ) has secured an investment of 22 million SEK (about $2.2 million) from a group of investors to support its new Bitcoin treasury strategy. Among the investors is cybersecurity pioneer and Blockstream CEO Adam Back, who personally contributed a portion of the funds.

H100 announced on May 25 that it had secured the investment via zero-interest convertible loans. The capital will be used to purchase additional BTC, expanding on the firm’s newly announced Bitcoin treasury policy, which was unveiled just days earlier on May 22.

21,000,000 SEK has been raised in a convertible round led by the legendary @adam3us 🍊Accelerating our Bitcoin treasury strategy and strengthening our focus on sovereign health — let’s build! pic.twitter.com/SrpbKM2TID

Adam Back personally contributed approximately 1.4 million. The remaining 800,000 came from Nordic investment groups, including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners.

The convertible loan agreement stipulates no interest and matures on June 15, 2028. Investors have the option to convert the loan into equity at any time for 1.3 SEK (approximately 11 cents USD) per share. If H100’s share price stays 33% above the conversion rate over a 60-day trading period, the company may enforce a mandatory conversion. If fully converted, the loan would result in approximately 16.15 million new shares, leading to a dilution of around 12%.

H100 Shares Soar 37% After Bitcoin Move

Market reactions were immediate and enthusiastic. On May 22, H100 shares surged 37% following the announcement of its Bitcoin treasury strategy and climbed another 5.33% the following day, closing at 1.29 SEK (around 14 cents USD), according to Bloomberg data.

Unlike most companies entering the BTC space, H100 operates in the health tech sector, developing tools that empower individuals to take proactive control of their health. According to CEO Sander Andersen, this mission aligns closely with the decentralized and sovereignty-focused values of the Bitcoin community.

“The values of individual sovereignty highly present in the BTC community align well with and will appeal to the customers and communities we are building the H100 platform for,” Andersen said in a May 22 post on X (formerly Twitter).

Swedens first health company with Bitcoin Treasury strategy @H100Group Supporting the sovereign individual and preventive health providers 🤝 pic.twitter.com/FSIxQZ81mJ

H100’s move positions it among a small but growing list of companies adopting Bitcoin as a balance sheet asset. According to BitcoinTreasuries.NET, 112 public companies globally now hold BTC. Only ten of these are headquartered in Europe, making H100 one of the continent’s early adopters.

This investment, led by Adam Back, signals further institutional confidence in Bitcoin’s role as a corporate treasury reserve. As H100 blends health technology with Bitcoin’s ethos of self-sovereignty and decentralization, it offers a compelling example of how forward-thinking companies can integrate BTC into their long-term financial and ideological frameworks.

Related | Metaplanet’s NISA Strategy: Japanese Investors Find Clever Loophole for Bitcoin Returns