Swedish gaming firm Fragbite Group has launched a Bitcoin treasury technique by buying 4.3 Bitcoin at a median worth of $112,958 per coin, turning into the most recent European agency to undertake cryptocurrency as a main reserve asset amid a worldwide wave of company adoption.
The corporate raised an extra 6 million Swedish krona ($630,000) by an interest-free convertible mortgage to fund additional Bitcoin purchases, with conversion rights triggered if shares exceed the SEK 13 conversion worth by 30% for 20 consecutive buying and selling days.
Bitcoin Treasury Director Patrik von Bahr referred to as the transfer positioning Fragbite as “an early pioneer in a revolutionary business.”
First buy full
4.3 bitcoin at a median worth of app. USD 112 958 / bitcoin marks the beginning of operations below the newly established Bitcoin Treasury
https://t.co/bwPYv8e2SD$FRAG pic.twitter.com/o2vbP95vAK
— Fragbite Group (@FragbiteGroup) July 22, 2025
The acquisition happens as company Bitcoin adoption accelerates globally, with over 274 corporations now holding 3.57M Bitcoin on their stability sheets.
Most just lately, MicroStrategy added 6,220 Bitcoin for $739.8 million in the course of the week ending July 20, bringing complete holdings to 607,770 Bitcoin price over $43 billion.
The company treasury development spans a number of sectors and geographies, with Japanese Metaplanet concentrating on 210,000 Bitcoin by 2027, London-listed corporations saying 9 Bitcoin treasury plans in current weeks, and European corporations more and more viewing cryptocurrency as an inflation hedge and a strategic asset.
European Company Bitcoin Adoption Beneficial properties Momentum
Fragbite Group joins a rising variety of European corporations embracing Bitcoin treasury methods as regulatory readability improves throughout the area.
The gaming agency’s convertible mortgage construction provides flexibility, with no curiosity accruing till November 30, 2030, and contains compelled conversion rights if the shares exceed 200% of the conversion worth.
Equally, Swedish agency Refine Group additionally just lately launched a $1 million Bitcoin treasury backed by recent capital.
As compared, London markets have seen corporations like Smarter Internet Firm surge from £4 million to over £1 billion market worth following Bitcoin buy bulletins.
The European adoption wave contrasts with established company treasury leaders, comparable to MicroStrategy, which continues to build up aggressively by at-the-market fairness choices.
The corporate raised $740.3 million throughout 4 ATM packages to fund its newest buy of 6,220 Bitcoins at a median worth of $118,940.
Furthermore, Australian DigitalX secured $13.54 million from Animoca Manufacturers, UTXO Administration, and ParaFi Capital for increasing its Bitcoin treasury, bringing its complete property to $95 million.
Market Dynamics Sign Rotation as ETF Flows Diverge
Establishments are more and more flocking to Bitcoin as a treasury, as evidenced by Bitcoin spot ETFs, which recorded their first internet outflow in 12 days, with $131.35 million exiting on July 21.
Bitcoin spot ETFs noticed a $131.35M outflow on July 21, snapping a 12-day influx streak, whereas Ethereum ETFs pulled in $297M as investor focus shifted.#SpotBitcoinETF #CryptoETFhttps://t.co/13rOyhITvN
— Cryptonews.com (@cryptonews) July 22, 2025
This got here after over two consecutive weeks of inflows, marking the tip of a strong interval that had attracted over $6.6 billion since early July.
The pure outflow may be primarily attributed to Bitcoin experiencing a slight pullback after its current $123K ATH peak.
BlackRock’s IBIT reported zero internet influx regardless of holding $86.16 billion in property, whereas Ark Make investments’s ARKB and Grayscale’s GBTC noticed outflows of $77.46 million and $36.75 million, respectively.
Nevertheless, Ethereum ETFs continued their momentum with $296.59 million in each day inflows, extending their profitable streak to 12 consecutive days.
BlackRock’s ETHA led with $101.98 million in new capital, whereas Constancy’s FETH attracted $126.93 million, as mixed Ethereum ETF property reached $19.6 billion.
Notably, SpaceX has just lately sparked concern with its $152.85 million Bitcoin transaction after a three-year hiatus.
The motion, as speculated, represents potential portfolio restructuring quite than liquidation.
The aerospace firm’s pockets transferred 1,308.45 Bitcoin, whereas sustaining 6,977 Bitcoin below Coinbase Prime custody, price roughly $818.3 million.
Historic knowledge exhibits SpaceX acquired a number of Bitcoin inflows between 2021 and 2022, with holdings exceeding $1.6 billion in the course of the earlier bull run.
On the time of writing, Bitcoin is buying and selling above $118,700 after consolidating from its all-time excessive of $123,000.The cryptocurrency is displaying bullish pennant patterns that usually sign continuation strikes after a rally correction or pullback.
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