Oil billionaire Kjell Inge Rokke’s Aker ASA is setting up a new business which seeks to gain from Bitcoin, according to Bloomberg.

  • The new business Seetee AS will start with a 500-million kroner investment or $58 million. All liquid investable assets will be kept in the cryptocurrency.
  • Seetee will focus on Bitcoin investments, establishing partnerships with players in the community, launch verification operations, and invest in innovation projects and companies.
  • Rokke is banking on the prospects of Bitcoin which could “be worth millions of dollars” but he does not discount the possibility of a downward trend. 
  • Rokke is Norway’s second-richest person with an estimated net worth of $5.4 billion.
  • Aker ASA controls oil and oil service companies with roots reaching back 100 years. It has investments in green tech and renewable companies.