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Norwegian Oil Billionaire Stakes $58M Into Bitcoin via Akar ASA

Norwegian Oil Billionaire Stakes $58M Into Bitcoin via Akar ASA
  • Norweigian oil company Akar ASA has ventured into Bitcoin with a $58 million stake.
  • Akar ASA has launched a new venture Seetee AS to explore Bitcoin potential.

Norwegian billionaire Kjell Inge Rokke is the latest high-profile individual to invest in Bitcoin (BTC). Rokke recently put $58 million towards BTC through his oil company Akar ASA.

Akar ASA is an oil and oil services company that recently branched out into green tech and renewable energy. As part of the Akar diversification plan, the company has also added crypto. In fact, Akar recently set up a venture called Seetee AS to explore the potential of BTC.

Also, in a recent letter to shareholders, Rokke noted that BTC became the core of new monetary architecture. In fact, Seetee is the first step toward their plan to grow into cybersecurity, financial transactions, and emission-free verification.

Towards this, Rokke added,

People who know the most about Bitcoin believe its future success is nearly inevitable. The direction is clear: finance will be disrupted as surely as fossil fuels will be. The question is not if but when.

To that end, Seetee will not only focus on investing in BTC but will also partner with key BTC and crypto players. Seetee will also launch BTC verification operations as well as investing in innovative projects and companies. One such company is Blockstream, a BTC service provider that offers interoperable sidechains that support new apps.

Akar has a well-formulated BTC plan that includes investing all liquid reserves into BTC. This move has given Akar and Rokke a seat at the same table as Elon Musk via Tesla, MicroStrategy, and Meitu.

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