Oslo stock exchange-listed Aker ASA has set up a new company dedicated to investing in bitcoin projects and companies.
- In an announcement Monday, the holding company focused on energy, construction and fishing said its new entity, Seetee AS, will keep all its liquid investable assets in bitcoin and will also enter the bitcoin mining industry.
- "First, we will use bitcoin as our treasury asset and join the community. In Bitcoin-speak, we will be hodlers," Norwegian billionaire Kjell Inge Roekke, chairman and majority owner of Aker, said in a letter to shareholders.
- Seetee is launching with 500 million Norwegian Krone ($58.3 million) in capital.
- The new firm has already partnered with Canada’s Blockstream for work on bitcoin mining and sidechain projects.
- "Bitcoin may still go to zero. But it can also become the core of a new monetary architecture. If so, one bitcoin may be worth millions of dollars," said Roekke.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.