Oil billionaire company buys $59 million in bitcoin
The billionaire Kjell Inge Rokke, owner of the Norwegian oil company Aker Asa, announced on Monday (8) the creation of Seetee and the purchase of 1,170 bitcoins ($59 million) to inaugurate the company’s operations.
This will be a subsidiary of the Aker group that will invest in promising projects made in the Bitcoin ecosystem (BTC). The company’s treasury will be entirely based on cryptocurrency, according to the statement to investors.
Seetee will use the accumulation strategy (HODL) to increase its bitcoin reserves.
“We will not be as rebellious as the cyberpunks who invented Bitcoin. However, we will act in a much more progressive way than most corporations ”, claims Rokke, in the document.
Initially, Seetee’s initial focus will be on crypto mining, in partnership with Blockstream. The company hopes to “combine the conglomerate’s industrial capacity with Blockstream’s experience in the cryptocurrency market”, according to a recent tweet stream.
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 1,170 BTC and our strategy is to hodl.
— Seetee (@Seetee_io) March 8, 2021
Seetee confirmed on Twitter that it runs its own Bitcoin node. This server hosts the BTCPay Server payments service. “We will be active contributors to the cryptocurrency community,” says the company.
One of the focuses of the company’s business will be the use of renewable energy. In recent times, the Bitcoin network has faced several criticisms due to the high energy expenditure caused by mining.
“We are going to establish mining operations in places where energy demand is below capacity, in order to use energy to foster assets that can be used anywhere in the world,” says Seetee.