A company with a turnover of $ 6 billion invests $ 58 million in bitcoin under the HODL strategy

Aker ASA, a holding company registered in Oslo with a turnover of $ 6 billion, starts investing in bitcoin. Aker has set up a new company called Seetee AS with a mission to invest in Bitcoin (BTC), according to an official press release on Monday.

Also, the newly formed Seetee will enter the bitcoin mining arena, seeking to forge partnerships with major players in the crypto space. Seetee is believed to have already entered into a partnership agreement with Blockstream.

The Seetee AS division will initially have a capital of 500 million kronor ($ 58.6 million) and intends to keep all of its liquid assets in bitcoin.

At the initial stage, the company identifies the following tasks for itself:

  • Invest in bitcoin and hold it;
  • Join the Bitcoin and blockchain community and establish cooperation with its leading players;
  • Launch «verification operations» based on bitcoin;
  • Create and invest in innovative projects and companies in the Bitcoin and blockchain ecosystem.

According to the CEO of Bitcoin infrastructure company Blockstream, the firm will work closely with Seetee on BTC mining and sidechain implementation.

Even though the Norwegian government stopped subsidizing electricity to BTC miners back in November 2018, the country’s bitcoin mining activity still accounts for a significant portion of the global hashrate.

According to the Cambridge Bitcoin Electricity Consumption Index, after China, the country is ranked eighth in terms of the global monthly hash rate.

It also said in a press statement that the new company will be looking to invest in other cryptocurrency and blockchain firms.

Aker will provide NOK 500 million ($ 58 million) for Seetee’s initial capitalization, which will be invested in BTC. The move marks a departure from Aker’s conventional investments in oil exploration and marine biotechnology.

“Today we announced the launch of Seetee!
We are a new company in the Aker group and will invest in exciting projects and companies throughout the Bitcoin ecosystem. Bitcoin is our treasury asset. Our first purchase was 1170 BTC, our strategy is hodling, ”the company’s Twitter account says.

aпуcк Seetee

Explaining the reason for investing in bitcoin, Aker CEO Oyvind Eriksen remarked:

“With the launch of Seetee, the Aker Group is taking another step in software and financial technology. We are very excited about the industrial opportunities that blockchain technology is opening up and want to actively contribute to this area. «

Leave a Reply

Your email address will not be published. Required fields are marked *