@goldx
Adam Back leads $2.2M raise for
Swedish health firm's Bitcoin buys
6:07 am.26 May
Blockstream CEO Adam Back has led a21
million Swedish krona ($2.2 million) funding
round in the Swedish health tech company
H100 Group AB, which last week said it
would start buying Bitcoin.
H100 said on May 25 that the funds, secured
through 0% interest convertible loans, will be
used to purchase BitcoinBTCUSD in line
with its Bitcoin-buying pivot announced on
May 22.
Back, a longtime Bitcoin cypherpunk
contributed around $1.4 million, while the
remaining $800,000 camefrom investment
firms Morten Klein, Alundo Invest AS, Race
Venture Scandinavia AB and Crafoord Capital
Partners.
The raise would allow H100 to buy around
20.18 Bitcoin at current market prices,
which would add to the 4.39 Bitcoin that
it purchased on May 22 andbring its total
stash to roughly 24.57 Bitcoin.
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