From bitcoin hater to fan, Norwegian billionaire opts for BTC

From Bitcoin Hater to Fan: Again a Norwegian Billionaire Decides in Favour of BTC

Øystein Stray Spetalen has reportedly invested „heavily“ in crypto exchange MiraiEx and bought large amounts of Bitcoin.

Norwegian kroner billionaire Øystein Stray Spetalen has invested „heavily“ in both Bitcoin (BTC) and local crypto exchange MiraiEx – after bashing crypto just last week.

Spetalen recently bought an undisclosed amount of BTC as well as investing in Norwegian cryptocurrency exchange MiraiEx. By its own admission, the platform did not need Bitcoin Evolution new capital at the moment, but admitted that additional funds will help it expand faster.

„We didn’t really need money. We just wanted to grow faster,“ the exchange spokesperson said.

Meanwhile, Spetalen’s opinion on Bitcoin was the stark opposite just last week. On 18 March, he said the cryptocurrency was „hostile“ to the environment and claimed regulators in the EU should ban it outright.

„The only thing I have analysed is that Bitcoin today consumes as much energy as the entire energy consumption of Norway. It is extremely anti-environmental. If you are really serious about Bitcoin, the authorities and the EU should ban it immediately,“ Spetalen said at the DNB Invest conference. And: „It is simply nonsense. We’re doing fine with today’s payment systems.“

A 180-degree turn on bitcoin

However, he quickly changed his mind after talking to the MiraiEx founders. Spetalen:

„When the facts change, I change. I met the MiraiEx founders the day after the podcast was recorded in early March and realised I was wrong. And then when I also read that Kjell Inge Røkke had gotten into Bitcoin, it was quite obvious. I can’t stand that Røkke is making money and not me.“

Kjell Inge Røkke is another Norwegian investor who controls local holding company Aker ASA. On 8 March, the firm announced that it had formed Seetee, a new entity that will focus on „investing in projects and companies across the Bitcoin ecosystem“, starting with a purchase of 1,170 BTC ($58.5 million at the time).

„We are very excited about the industrial opportunities that are being unlocked by Bitcoin and blockchain technology, and we want to contribute to them with vigour,“ Seetee noted at the time.

Now it looks like other Norwegian investors are also starting to take notice of Bitcoin.