Norwegian oil billionaire Kjell Inge Rokke’s Aker ASA is setting up a new business Seetee AS, to tap into the potential of bitcoin, according to Bloomberg. Rokke believes bitcoin will prove the best defense against disruptions facing the finance industry and central banking.
Rokke’s investment in bitcoin will be about 500 million kroner or $58 million in capital.
Seetee plans to keep all its liquid investable assets in bitcoin.
Rokke believes bitcoin can become the core of a new monetary architecture, although he does not rule out that it may still go to zero.
The Norwegian billionaire says it is not inconceivable that bitcoin could one day “be worth millions of dollars.”
Aker’s Seetee will focus on investing in bitcoin, establishing partnerships with leading players in bitcoin, launching digital coin verification operations and investing in innovation projects and firms.
Bitcoin’s investment is intended to help Aker ASA pursue developments in cybersecurity, financial transactions, and emissions-free verification operations.
Rokke is Norway’s second-richest person with an estimated $5.4 billion net worth.
