Norwegian Billionaire Speaks in support of Bitcoin and explains why not investing in BTC would be risky

A Norwegian billionaire, Kjell Inge Røkke is in the support of bitcoin as he invests his money into Bitcoin and he also highlights that it is risky to not put money into the top cryptocurrency. In his letter to shareholders, he reveals that his company Aker established Seetee. It is a firm responsible for investing in Bitcoin and Bitcoin ecosystem. 

He also makes an announcement that Seetee is launching with a capitalization of $58.8 million and is also planning to increase it over time. Rokke also announces that his firm has a threefold strategy for crypto investments. As per the billionaire, his first step is to become hodlers of cryptocurrencies

“First, we will use bit­coin as our trea­sury as­set and join the com­mu­ni­ty. In Bit­coin speak, we will be hodlers. We will be dif­fer­ent, but ad­di­tive. Per­haps not as re­bel­lious as the cypher­punks who in­vent­ed Bit­coin. But much more pro­gres­sive than most es­tab­lished cor­po­rates. The team at See­tee is al­ready run­ning open-source bit­coin pay­ment servers and will re­main ac­tive con­trib­u­tors in the com­mu­ni­ty.”

Rokke further explains that the firm’s next step to build mining operations incorporated with sustainable energy sources. 

“Sec­ond, See­tee will es­tab­lish min­ing op­er­a­tions that trans­fer strand­ed or in­ter­mit­tent elec­tric­i­ty with­out sta­ble de­mand lo­cal­ly – wind, so­lar, hy­dro pow­er – to econom­ic as­sets that can be used any­where. 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. Our am­bi­tion is to be a valu­able part­ner in new re­new­able projects.”

The third component of the firm’s Bitcoin investment plan is to create and invest in different Bitcoin projects. 

“Third, we will build and in­vest in projects and com­pa­nies in Bit­coin’s ecosys­tem. This is where our true pas­sion is! Our home game is in­dus­trial ap­plications. But we also be­lieve nice­ly de­signed mod­ern user in­terfaces will en­able new ap­plications wher­ev­er trans­ac­tions hap­pen. I am par­tic­u­lar­ly in­ter­est­ed in mi­cro­pay­ments and how these may en­able us to avoid user­names, pass­words, and our per­son­al data be­ing mon­e­tised with, and of­ten with­out, our knowl­edge or con­sent.”

Revealing his strategy, Rokke explains why he believes not investing in Bitcoin is a risky option. 

“Risk is not an ob­vi­ous con­cept. What’s com­mon­ly con­sid­ered risky is frequent­ly not. And vice ver­sa. We are used to think­ing that cash is risk free. But it’s not. It’s im­plic­it­ly taxed by in­fla­tion at a small rate every year. It adds up…

Bit­coin may still go to zero. But it can also be­come the core of a new mon­e­tary ar­chi­tec­ture. If so, one Bit­coin may be worth mil­lions of dollars. The asym­me­try is in­ter­est­ing to a port­fo­lio. Peo­ple who know the most about Bit­coin be­lieve its fu­ture suc­cess is near­ly in­evitable.”

Also Read: JPMorgan Regulatory Filings Have Revealed A ‘Basket’ Of Products Connected To Crypto-Linked Public Companies