Aker launches the company Seetee, which will focus on cryptocurrency, and has already bought bitcoin for NOK 500 million. Companies such as Tesla, MassMass Mutual, Microstrategy and Twitter owner Jack Dorseys Square have already secured positions in bitcoin.
In a stock exchange announcement, by Aker, on Monday morning it is stated that Aker has established a new company called Seetee that will invest in the cryptocurrency bitcoin.
The company has received a capital of NOK 500 million. That sum will be increased “significantly” over time with more experience and when the company discovers more opportunities, Kjell Inge Røkke writes in a letter to shareholders. The letter is written in collaboration with Ola Snøve, who has invested ten percent of the capital in Seetee through Storbrea AS. Røkke and Snøve have worked with each other for about 15 years.
In the shareholder letter, Røkke says that it can be risky to enter new industries, but that he likes to ask questions about what can be missed on the upside. He writes that bitcoin can be the start of something new, and that it can be a form of digital gold – a type of investment that can be a potential place to park your money in periods when both fixed income securities and shares fall.
Røkke is also aware of the risk that bitcoin could be a bursting bubble:
“Bitcoin can still go to zero. But it can also become the core of a new monetary policy architecture. In that case, one bitcoin can be worth millions of dollars “, writes Røkke.
Seetee has already bought 1,170 bitcoin and has a strategy to keep the cryptocurrency, the company states on its website. The company writes that they hold their liquid investable assets in bitcoin.
According to the website Coinmarketcap, bitcoin is trading for 50,000 dollars on Monday morning, after a sharp rise this year. At New Year, bitcoin was around 29,000 dollars, and a year ago it was 8,000 dollars.
In addition to investing in the cryptocurrency, Seetee will enter into partnerships with players in bitcoin and invest in projects and companies in the crypto market.
The new company has entered into a partnership with Blockstream, which works with blockchain technology, it is stated.
In the shareholder letter, Røkke says that it can be risky to enter new industries, but that he likes to ask questions about what can be missed on the upside.
He writes that bitcoin can be the start of something new, and that it can be a form of digital gold – a type of investment that can be a potential place to park your money in periods when both fixed income securities and shares fall.
Røkke is also aware of the risk that bitcoin could be a bursting bubble:
“Bitcoin can still go to zero. But it can also become the core of a new monetary policy architecture. In that case, one bitcoin can be worth millions of dollars “, writes Røkke.
