Kjell Inge Røkkes Aker launches a crypto company and has bought bitcoin for 500 million crowns: – Those who know more about bitcoin think that its future success is almost inevitable.

Kjell Inge Røkkes Aker launches cryptocurrency company Seetee and has bought bitcoins for NOK 500 million.

It appears on the company’s website, where Seetee claims to have 1,170 units of the cryptocurrency that is now trading for more than $ 50,000.

The plan is to invest much more in the future.

Røkke wants to “have fun”

Røkke himself has written a letter to shareholders explaining the background to the new business area and expressing strong long-term confidence in bitcoin.

– We may not be as rebellious as the “cypher punks” who invented bitcoin, but much more progressive than most established companies, Røkke writes in the letter that is peppered with crypto-jargon.

– In bitcoin language, we will be hodlers, writes Røkke.

This is a deliberate misspelling of the word “hold,” indicating that the company views Bitcoin as a long-term investment.

The company will be led by Magnus Granath and the brothers Snorre and Sverke Lorgen, who are rowers and former Olympic participants.

Seetee will also mine bitcoin, a controversial and energy-consuming operation called “mining.” However, the company believes in finding a way for your recovery to solve problems, rather than create them.

This will be achieved by mining Seetee’s bitcoins with local surplus energy from green sources and converting the energy into “an inexpensive asset that can be used anywhere” – that is, bitcoins.

In addition to owning and mining cryptocurrencies, Seetee will invest in technology and other companies, and has partnered with Canadian blockchain company Blockstream.

Social construction

Røkke writes in the letter to shareholders that he himself was skeptical of bitcoin for many years, but that he was convinced.

– Money is a human invention, a social construction that only works because we all believe in it, he writes on the background.

The cryptocurrency has seen tremendous price development over the past year and is now over $ 50,000 after surging 500 percent in the past 12 months. Røkke doesn’t think it will stop here, if cryptocurrency becomes the core of a new monetary architecture as he believes.

– If that happens, a bitcoin could be worth a million dollars. Asymmetry is interesting for a portfolio. Those who know more about bitcoin believe that its future success is almost inevitable. Where other fields believe that failure is equally true. The status quo is not possible, Røkke writes in the letter. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content can only be done with written permission or as permitted by law. For more terms, see here.