AdoptionBitcoin PriceCointelegraph.comCryptocurrenciesEnergy

Norweigan energy tycoon spins up new Bitcoin business

Billionaire Kjell Inge Rokke believes BTC will become an important feature of the new monetary system.
Norweigan energy service provider Aker Solutions is spinning up a new business dedicated to Bitcoin (BTC) after its CEO, Kjell Rokke, talked up the importance of the digital asset in a recent shareholder letter. On Monday, Aker announced that it has established Seetee — a crypto-focused investment company that seeks to tap into the Bitcoin ecosystem. The spin-off company has been allocated $59 million, or 500 million NOK, which Aker says will “increase significantly over time as we gain experience and identify exciting opportunities.” The company explained:“Aker’s de­ci­sion to en­ter Bit­coin through See­tee is the re­sult of a long and fun­da­men­tal dis­cus­sion about val­ue.”Seetee plans to establish mining operations that transfer stranded electricity to various assets. “Bit­coin is, in our eyes, a load-bal­anc­ing eco­nom­ic bat­tery, and bat­ter­ies are es­sen­tial to the en­er­gy tran­si­tion re­quired to reach the tar­gets of the Paris Agreement,” the company said in its shareholder letter. In addition to Seetee, Aker plans to hold all its liquid investable assets in Bitcoin, joining the ranks of MicroStrategy and Tesla in accumulating BTC reserves. In the case of Tesla, the company recently announced it would allocate 7.7% of its gross cash to BTC.As an engineering company based in Oslo, Aker Solutions provides integrated solutions for …
Story continues on Cointelegraph

Related posts
BusinessCointelegraph.comCryptocurrency ExchangeGeminiSportwinkelvoss twins

Gemini crypto exchange sponsoring the Oxford-Cambridge boat race

“We are thrilled to be combining two of our greatest passions — rowing and crypto — with our sponsorship of this historic event,” said the Winklevoss twins. Tyler and Cameron Winklevoss, co-founders of the Gemini cryptocurrency exchange and former olympian…
Altcoin Watchcentral bankCointelegraph.comCryptocurrenciesCryptocurrency ExchangehyperinflationMarketsStablecoinVenezuela

Reserve Rights (RSR) gains 300% as stablecoins gain regulatory approval

Global stablecoin adoption and uncontrolled hyperinflation in Venezuela and Argentina have helped push Reserve Rights to a new all-time high. Non-fungible tokens and high-yielding decentralized finance platforms have been the focus of attention in the cryptocurrency sector for the past…
BusinessCointelegraph.comHODLInvestmentsmedicineUnited Kingdom

HODLer claims to have used crypto profits for father's cancer treatment

A Redditor reportedly recommended an acquaintance invest in ADA, XDC, GLM, NEXO, and ETH back in 2019. Though investing in crypto has the potential to radically change someone’s financial situation, one HODLer is saying their actions may have actually saved…