Swedish Healthcare Firm H100 Group Buys 4.39 BTC, Becomes Sweden's First Public Bitcoin Treasury Company

Swedish healthcare company H100 Group AB has acquired 4.39 bitcoins, becoming the first publicly listed company in Sweden to hold Bitcoin in its treasury.

Swedish healthcare firm H100 Group AB has acquired 4.39 bitcoins, making it the first publicly listed company in the country to hold Bitcoin in its treasury. The company said it aims to enhance its financial sovereignty and innovation with the move.

H100 Group is known for its home care services and has been operating since 1996. The firm's acquisition of Bitcoin at an average price of $94,000 over the past six months positions it as a pioneer in Sweden's corporate adoption of cryptocurrency.

"We are always looking for new ways to innovate and improve our business," said Robert Hedqvist, CEO of H100 Group. "We believe that Bitcoin is a valuable addition to our treasury and will help us to achieve our financial goals."

The move comes after Europe's first Bitcoin treasury company, The Blockchain Group, recently purchased 227 bitcoins for €21.2 million, boosting its total holdings to 847 bitcoins. The company, which went public in 2022, had previously disclosed Bitcoin treasury allocations in its interim report for the first half of 2023.

The Blockchain Group's latest move follows a broader trend of companies adding Bitcoin to their treasuries. In the U.S., publicly listed firms are permitted to invest up to 10% of their cash reserves in cryptocurrencies.

Earlier this year, a U.S. court ruling recognized Bitcoin as a fungible monetary instrument, paving the way for companies to openly allocate a portion of their treasury to the cryptocurrency.output: Swedish healthcare firm H100 Group AB has acquired 4.39 bitcoins, making it the first publicly listed company in the country to hold Bitcoin in its treasury.

The company said it aims to enhance its financial sovereignty and innovation with the move.

H100 Group is known for its home care services and has been operating since 1996. The firm’s acquisition of Bitcoin at an average price of $94,000 over the past six months positions it as a pioneer in Sweden’s corporate adoption of cryptocurrency.

Elsewhere, Europe’s first Bitcoin treasury company, The Blockchain Group, has purchased 227 bitcoins for €21.2 million.

The company, which went public in 2022, said the move brings its total Bitcoin holdings to 847. The Blockchain Group previously disclosed Bitcoin treasury allocations in its interim report for the first half of 2023.

The Blockchain Group’s latest move follows a broader trend of companies adding Bitcoin to their treasuries. In the U.S., publicly listed firms are permitted to invest up to 10% of their cash reserves in cryptocurrencies. Earlier this year, a U.S. court ruling recognized Bitcoin as a fungible monetary instrument, paving the way for companies to openly allocate a portion of their treasury to the cryptocurrency.