Norway-based oil and gas giant Aker ASA has hopped on the Bitcoin bandwagon, launched a new unit dedicated to investing in BTC
As AZCoin News reported, Meitu is the next name to join the list of people who accept Bitcoin. And today, Norway’s industrial investment company, Aker ASA, also jumped into the Bitcoin race through its move to launch a new unit specializing in investing in the largest cryptocurrency in the market.
— Bloomberg Crypto (@crypto) March 8, 2021
Norwegian Oil Mogul sets up a $ 58 million entity to buy Bitcoin
Not only investing in Bitcoin, a Norwegian industrial investment firm, but Aker ASA will also establish a company specializing in investing in Bitcoin and Blockchain technology. The new company “Setee AS” will actively participate in the cryptocurrency market by partnering with companies in other industries. It will also invest in other companies with healthy prospects in the Blockchain and crypto industries.
The company which majors in offshore fishing, construction, and engineering said it would convert all its liquid assets to bitcoin. The new dedicated bitcoin unit will have a capital of around 500 million Norwegian crowns (approximately $ 58.6 million).
According to Aker, the new institution’s activities will extend beyond Bitcoin investments. The unit is expected to leverage the parent organization’s ability to pursue innovations in cybersecurity, financial transactions, and zero-emission verification. As part of the following, the company will research and work on alternative ways to verify Bitcoin transactions in a more environmentally friendly way.
Setee is collaborating with a global leader of Canada in Bitcoin and Blockchain technology, Blockstream.
Aker ASA’s President and CEO, Øyvind Eriksen, spoke about Setee’s launch and its first partnership:
“With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology and want to contribute forcefully to that effort. These technologies have the potential to reduce frictions in our day-to-day lives, enhance the security of our digitally-driven economies, and unlock new business models for innovation. We look forward to addressing these and other applications together with Blockstream and other partners.”
Aker AS is owned by Norwegian businessman Kjell Inge Rokke.
Rokke shared a letter regarding the latest developments with company stakeholders:
“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.”
The Bitcoin institutional frenzy continued to spread like an epidemic. After several major US corporations added digital currencies to their balance sheets, flood systems were opened to major institutions around the world.
You can see the BTC price here.
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