Norwegian Billionaire Reverses His Bitcoin Ideas

As at the time of writing this news, the following information was gathered;

Norwegian billionaire, Oystein Stray Spetalen has ostensibly succumbed and bued in bitcoin, after affirming that the crypto was a useless form of investment. The bold step was as a result of seeing another billionaire in Norway invest in the cryptocurrency.

A recent publication by local vendor Finansavisen, has it that Oystein Stray Spetalen, who was once skeptical on the cryptocurrency 'bitcoin' calling it nonsense has realized it's potential and has equally invested in both bitcoin and a local crypto exchange.

During a workshop at DNB in March, Spetalen opined that bitcoin consumes much energy and is extremely environmentally hostile and that the EU should put an end to the nonsense.

But recently the payment system has been doing well, and during an interview with Finansavisen, revealed that he has invested bitcoin and Miraiex, a Norwegian crypto exchange platform owned and operated by Oslo-based Mirai Technologies AS.

Other important updates from the news include;

It was in early March that his ideas of the bitcoin changed.

Spetalen was previously an investment director at Sveeas As, CEO of Oslo Securities As, CEO of Finanshuset and a portfolio manager in Gjensidige Forsikring.

Spetalen also owns and runs the investment firm Ferncliff As and Tycoon industries As.

A new business dedicated to bitcoin called Seetee, with 500 million kroner ($59 million) he calls " an amount we aim to increase significantly over time" was formed in March by Norwegian billionaire Kjell Inge Rokke.

Rokke is of the opinion that bitcoin could become the core of a new monetary architecture and each coin could be "worth millions of dollars".

However, Spetalen did not disclose the amount he invested in bitcoin.

What are your views about Spetalen's bitcoin investment?