Swedish Health Firm Posts 37% Gain Following Inaugural Bitcoin Investment, While Chinese Electric Vehicle Seller Announces 1,000 Bitcoin Purchase

H100 Group AB, a Swedish health tech company, made its first-ever Bitcoin purchase.
The company spent 5 million Norwegian krone ($490,830) to buy 4.39 Bitcoin at an average purchasing price of around $111,785.
H100’s shares closed trading up 37% to 1.22 Swedish krona ($0.13) on the Nordic Growth Market.
Jiuzi Holdings, a Nasdaq-listed Chinese electric vehicle retailer, has announced that its board has approved a plan to buy 1,000 Bitcoin over the next year.

H100 Group AB’s Bitcoin Purchase

On May 22, H100 Group AB, a Swedish health tech company, made its first-ever Bitcoin purchase. The company spent 5 million Norwegian krone ($490,830) to buy 4.39 Bitcoin at an average purchasing price of around $111,785. Following the announcement of this purchase, H100’s shares closed trading up 37% to 1.22 Swedish krona ($0.13) on the Nordic Growth Market.

The company’s CEO, Sander Andersen, believes that the values of individual sovereignty highly present in the Bitcoin community align well with its customers and communities. H100 sells health tools for individuals who don’t want to rely on the reactive health system, and Andersen sees the purchase of Bitcoin as “Phase 1” in the company’s strategy, hinting at further buys.

China’s Jiuzi Holdings to Purchase 1,000 Bitcoin

Meanwhile, Jiuzi Holdings, a Nasdaq-listed Chinese electric vehicle retailer, has announced that its board has approved a plan to buy 1,000 Bitcoin over the next year through additional stock issuance and cash purchases. The company’s CEO, Tao Li, acknowledged the volatility associated with investing in Bitcoin but believes that the move will strengthen the firm’s asset structure, risk resistance, and profitability.

The company’s stock rose 7.3% to $3.09 on May 22 following the announcement. While this increase may seem relatively minor compared to other public companies that have recently announced Bitcoin buys, Jiuzi’s move is indicative of the growing adoption of Bitcoin by companies from various sectors.

The Growing Trend of Bitcoin Adoption

The trend of companies adopting Bitcoin as a treasury asset is becoming increasingly popular. According to BitcoinTreasuries.NET data, 109 public firms now hold the cryptocurrency on their balance sheets. This growing trend is driven by companies seeking to diversify their asset portfolios, mitigate risks, and potentially reap the benefits of the cryptocurrency’s price appreciation.

Longevity and Biohacking: The Connection

H100’s focus on the health and wellness sector, along with its adoption of Bitcoin, raises interesting questions about the connection between longevity, biohacking, and cryptocurrency adoption. The company’s CEO, Sander Andersen, has spoken publicly about his interest in biological immortality and the concept of “longevity escape velocity.” This raises the possibility that H100’s Bitcoin purchase is part of a broader strategy to integrate crypto and blockchain technology into its health and wellness services.

As the cryptocurrency market continues to evolve, it will be interesting to see how companies like H100 and Jiuzi will adapt and incorporate digital assets into their business models. The growing trend of Bitcoin adoption by companies from various sectors is likely to have significant implications for the financial and economic systems as a whole.