Aker ASA’s 17% stock surge signals growing corporate Bitcoin adoption in Europe, with firms using BTC as collateral for stablecoins and yield generation under new EU regulations.
Norwegian investment firm Aker ASA saw shares jump 17% on June 10 after expanding Bitcoin holdings to 1,580 BTC, deployed in yield-generating protocols through subsidiary Seetee.
Strategic Bitcoin Deployment
Aker ASA’s market surge followed its June 10 announcement detailing how subsidiary Seetee now utilizes 1,580 BTC as productive treasury assets rather than passive holdings. According to their investor presentation, the company employs Bitcoin in decentralized finance protocols to generate yield while simultaneously collateralizing euro-pegged stablecoins. This dual approach represents an evolution beyond the simple accumulation strategies pioneered by US companies like MicroStrategy.
Nordic Corporate Adoption Accelerates
A Kaupang Bank survey released June 12 reveals 38% of Nordic enterprises now actively evaluate Bitcoin treasury strategies, doubling since late 2022. This trend materialized dramatically when Norwegian exchange Firi launched corporate BTC-collateralized stablecoins on June 14, attracting €47 million in deposits within 72 hours. ‘European corporations recognize Bitcoin’s potential as both inflation hedge and productive asset,’ noted Kaupang analyst Ingrid Solberg in the report.
Regulatory Catalyst
The accelerating adoption coincides with the European Parliament’s June 11 approval of final MiCA regulations establishing clear custody frameworks for corporate crypto holdings by 2024. This regulatory certainty contrasts with the SEC’s ongoing enforcement approach in the US. ‘MiCA provides the guardrails for institutional participation,’ confirmed EU financial services commissioner Mairead McGuinness during the Brussels announcement.
The current corporate Bitcoin adoption wave extends beyond the early accumulation phase led by US companies between 2020-2022. MicroStrategy’s initial $250 million Bitcoin purchase in August 2020 established the blueprint for treasury allocation, with Tesla’s $1.5 billion investment in February 2021 validating the strategy. However, these remained largely passive holdings without integrated yield generation mechanisms.
Europe’s emerging model reflects a maturation seen in previous financial innovations. The 2010s witnessed how Nordic corporations rapidly adopted digital payment systems ahead of global peers, with Sweden’s Riksbank testing e-krona prototypes by 2020. This existing fintech infrastructure positions European firms to implement sophisticated crypto treasury operations more readily than companies in regions with less developed digital finance ecosystems.
