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Norway-Listed Aker to Put 100% Bitcoin in Treasury Reserves of New Investment Unit

Oslo stock exchange-listed Aker ASA has set up a new company dedicated to investing in bitcoin (BTC) projects and companies.

In an announcement on Monday, the holding company focused on energy, construction and fishing stated that its new entity, Seetee AS, will keep all its liquid investable assets in bitcoin and will also enter the bitcoin mining industry.

Norwegian billionaire Kjell Inge Roekke, chairman and majority owner of Aker, said in a letter to shareholders:

“First, we will use bitcoin as our treasury asset and join the community. In Bitcoin speak, we will be hodlers.”

According to Coindesk, Seetee is launching with 500 million Norwegian Krone in capital.

The new company has already partnered with Canada’s Blockstream for work on bitcoin mining and sidechain projects.

Roekke stated:

“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.”

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