Norwegian Oil Billionaire Launches Bitcoin Fund
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8 March
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Norwegian billionaire Kjell Inge Rokke, who made his fortune on oil and gas, has announced the launch of a new Bitcoin-focused investment company called Seetee. The newly-formed company will be overseen by Rokke's holding company Aker ASA.

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According to an announcement, Seetee will initially focus on investing and hodling bitcoin (EXANTE: Bitcoin), and joining the Bitcoin community. The company already purchased 1170 BTC and entered into a collaboration with Blockstream to focus on cryptocurrency mining.

Aker ASA President and CEO, Øyvind Eriksen, says blockchain and cryptocurrencies have the potential to "reduce frictions in our day to day lives."

"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," Eriksen added.

Seetee’s Bitcoin-related investments will be led by Magnus Granath, Snorre Lorgen and Sverke Lorgen. In a letter to shareholders, Rokke admitted bitcoin "may still go to zero," however, if it be­comes "the core of a new mon­e­tary ar­chi­tec­ture," one BTC may be worth "mil­lions of dollars."

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Earlier, iHodl reported that Meitu, one of the largest Chinese mobile app developers, invested $40 million in bitcoin (EXANTE: Bitcoin) and ether (ETH). The company bought 15,000 ETH and 379.12 BTC through open market transactions at an average cost of $22.1 million and $17.9 million, respectively.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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