According to a press release, the Seetee unit will focus on:
- Investing and owning Bitcoin
- Engaging in blockchain communities and establishing significant partnerships with leading representatives of this sector
- Launching own BTC operations
- Building and investing in innovative projects and companies in the BTC ecosystem
Seetee has already made its first investment of $ 58.5 million by purchasing 1,170 BTC.
“Bitcoin is our underlying asset. Our strategy is HODL”
The company also indicated that it will focus on bitcoin mining itself. While also confirming its partnership with the important player in this field – BlockStream.
What led to the transition to Bitcoin?
The CEO of Seetee, Kjell Inge Røkke, is considered one of the wealthiest Norwegians with an estimated $ 3.6 billion worth of assets. In a letter to shareholders, he announced that the decision to invest in Bitcoin was the result of long and substantial negotiations at the company level.
Røkke mentioned that he became interested in Bitcoin in the summer of 2020 and spent a lot of time studying this cryptocurrency. He read dozens of books, hundreds of articles, videos and listened to many podcasts. Of course, there were also countless interviews and analyzes that he has gone through.
Among the people who influenced his opinion on Bitcoin were Saifedean Aammous, author of “The Bitcoin Standard”, Andreas M. Antonopoulos, Adam Back, Chamath Palihapitiya, and last but not least, Michael Saylor, who launched the institutional purchase of Bitcoin in the United States through Microstrategy.
“Bitcoin can still drop to zero. However, it can also become the core of the monetary infrastructure, and if it does, one bitcoin can be worth a million dollars.”