Numerous multinational firms are interested in investing in the digital asset industry as Norway-listed firm Aker ASA plans to join the league. Bitcoin’s success has brought many investors into the digital asset industry with its performance. Unlike traditional investments, Bitcoin can grow in immense value within a short period.
This allows investors to enjoy better profits, especially if they are holding for the long-term. Companies globally see the asset as a suitable alternative to gold, especially since the yellow metal started declining in value as opposed to its use as a value store. Even firms reduced their gold dependency during the pandemic’s early days to prevent inflation’s effects on assets.
Røkke reveals the establishment of Seetee for Bitcoin investments
One of Norway’s billionaire entrepreneurs, Kjell Inge Røkke, heads the multi-billion dollar firm. He revealed that the business is creating a unit that would focus on investing in Bitcoin-based firms and projects within the ecosystem. The firm shared the new information on Monday, ensuring that crypto-based firms get some support from the mainstream company.
Similarly, the newly created business unit is called Seetee AS. It would keep liquated funds into investment avenues like Bitcoin as it bought 1,170 BTC for its first purchase at around $58 million. This might have influenced other Norway businesses that want to invest in Bitcoin.
Also read:The firm had revealed that Bitcoin is its treasury asset via the official website, and it plans to hodl it. Many institutional buyers getting Bitcoin exposure are holding for the long-term, unlike small-scale buyers that can buy or sell at any point in time.
Asides from buying Bitcoin, the firm would collaborate with firms and experts within the blockchain community. Seetee will not only invest in Bitcoin but would invest in other blockchain projects. The newly created business will first partner with Blockstream, a Bitcoin infrastructure provider, focusing significantly on mining.
Aker’s CEO reveals inspiration for Bitcoin investment
The Aker ASA is one of the oldest firms still existing, and it was founded in 1841. The firm is listed under the Oslo stock market. The firm works in specific engineering and construction areas and is also a known investor in green energy and fintech solutions.
The business has expanded over the years, and its new interest in cryptocurrency could mean larger exposure in the future as it continues to grow and bring new investment plans.
The businessman is confidently one of the region’s wealthiest men, with a hefty net worth of over $3 billion. The billionaire investor had explained to the firm’s shareholders about the sudden move to invest in a digital asset, especially because cryptos bring controversial views and opinions. Røkke revealed that the investment happened due to the discussions and talks about value.
The well-known investor said he has been reading many materials due to his research concerning digital assets. He pointed out firms like MicroStrategy that gained immensely due to their exposure to Bitcoin, which now holds Bitcoin worth almost $5 billion, which it bought for far lesser than that value.
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