Fragbite becomes first Swedish gaming firm to launch BTC treasury
Main Idea
Fragbite Group becomes the first Swedish gaming company to adopt a Bitcoin treasury strategy, acquiring 4.3 BTC worth $486,719 through an interest-free convertible loan.
Key Points
1. Fragbite Group acquired 4.3 BTC for $486,719 (SEK 6.63 million) at an average price of $112,958 per BTC as part of its new Bitcoin treasury strategy.
2. The purchase was funded via an interest-free convertible loan of SEK 6 million ($630,000), maturing in 2030, with a conversion clause tied to Fragbite’s share price performance.
3. The loan structure provides a flexible, low-cost method for building digital reserves while minimizing short-term financial risk.
4. Fragbite’s move reflects a long-term diversification strategy, aligning with broader financial market trends toward digital assets.
5. Fragbite is among the early corporate adopters of Bitcoin in Europe, where adoption has been slower compared to global firms like MicroStrategy and Tesla.
Description
Swedish gaming and e-sports firm Fragbite Group has become one of the first publicly listed companies in Sweden to adopt Bitcoin as a reserve asset. The company acquired 4.3 Bitcoin for $486,719 (SEK 6.63 million), at an average price of $112,958 per BTC, as part of a newly launched Bitcoin treasury strategy. The announcement marks a notable entry into the digital asset space by a European tech firm amid evolving regulatory clarity across the region. To fund the Bitcoin purchase, Fragbite raised...
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