H100 Shares Jump 45% After $10M Raise To Buy More Bitcoin As Centralized BTC Holdings Hit 31% Of Supply

Shares for the Swedish-based health tech firm H100 soared 45% yesterday after the company announced a $10 million raise to buy more Bitcoin as centralized treasuries now hold 31% of BTC’s total supply, according to Bitwise

H100 closed yesterday’s trading session at 4.64 krona (40.49) on the Nordic Growth Market stock exchange. This has pushed the company’s share price growth to 280% since announcing its Bitcoin strategy on May 22, according to MarketWatch data.

Bitcoin

New H100 Raise Substantially Larger Than The Previous One

H100’s latest raise is nearly five times larger than its previous $2.2 million raise that was led by Bitcoin cypherpunk Adam Back on May 25.

The raise was split between share issues worth $7.31 million and convertible loans worth $3.29 million.

H100 said the net proceeds from the two share issues “will be used to accelerate the company’s Bitcoin treasury strategy.” 

Centralized Treasuries Now Hold Almost A Third Of Bitcoin’s Supply

H100’s latest move comes amid accelerating corporate adoption of Bitcoin. So far, a total of 126 companies have added the leading crypto to their balance sheets, with 14 of the firms joining the list in just the last 3 weeks, according to data from BitcoinTreasuries. 

The corporate BTC buying spree has seen centralized treasuries accumulate over 31% of Bitcoin’s total supply, Gemini and Glassnode revealed in joint research.

That research found the total Bitcoin held across exchange-traded funds (ETFs), governments and public companies has surged to 6.1 million BTC. This represents an increase of 924% in supply held by these entities over the past decade. 

“During the same period, the spot price of Bitcoin has climbed from under $1,000 to over $100,000, reinforcing the thesis that institutions increasingly view Bitcoin as a strategic asset,” the researchers said in the report.

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