Billionaire Kjell Inge Rokke’s company, Aker, has started a new bitcoin business. Rokke believes that Bitcoin “could become the core of a new monetary architecture” and that each coin “could be worth millions of dollars”. His new company “will hold all of its liquid investable assets in Bitcoin”.
Norwegian joint-stock company gets into Bitcoin
The Norwegian oil billionaire Kjell Inge Rokke has spoken out in favor of Bitcoin. His company, Aker ASA, which controls oil and oil services company, announced on Monday that it has formed a new company, Seetee AS, to unlock the potential of cryptocurrency.
Aker is a Norwegian holding company listed on the Oslo Stock Exchange engaged in offshore fishing, construction and engineering. The company, founded in 2004, is controlled by Rokke with a 67% share via TRG Holding.
In his announcement, Aker described Seetee as “a new company dedicated to investing in projects and businesses across the Bitcoin ecosystem and holding all liquid investable assets in Bitcoin”. Sea Tea begins with a capital of 500 million kroner ($ 59 million), which Rokke describes as “an amount that we aim to increase significantly over time.”
Following the announcement, Rokke commented on Bitcoin and the start of the new company in a shareholder letter posted on Seetee’s website. The billionaire wrote:
We will use Bitcoin as our treasury asset and join the community. In Bitcoin language we will be hodlers.
Initially, Sea Tea will focus on four areas. The first is “invest in bitcoin and own it”. The second is to “join the Bitcoin and broader blockchain community and partner with leading players.” The third is “Starting Bitcoin Verification Processes” and the fourth is “Building and Investing in Innovation Projects and Companies in the Bitcoin and Blockchain Ecosystem”.
Seetee will be actively working with other companies to accelerate its initiatives, the announcement said. The company has “concluded a cooperation agreement with Blockstream” which “will initially focus on mining”.
Rokke continued:
Bitcoin can still go to zero. But it can also become the core of a new currency architecture. If so, a bitcoin can be worth millions of dollars.
He added, “The direction is clear: finances are just as likely to be disrupted as fossil fuels. The question is not if, but when. “
What do you think of Rokke’s Bitcoin strategy? Let us know in the comments below.
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