Isn’t Bitcoin Good, Norwegian Billionaire Would
Just a month after publicly rubbishing it, Norwegian billionaire Øystein Stray Spetalen has completed an about turn and invested in Bitcoin.
To use a poor Beatles pun: ‘Isn’t Bitcoin good, Norwegian would’ is how I will introduce Spetalen’s capitulation.
Norway’s most popular investor completed a dramatic U-turn after calling for Bitcoin to be banned less than a month ago, and simply explained, ‘When the facts change, I change.’
Bitcoin Is Nonsense And Should Be Banned
Speaking on a podcast last month, Norwegian billionaire Øystein Stray Spetalen called Bitcoin ‘nonsense’ and claimed it was ‘extremely environmentally hostile’ and that the EU should look into banning it.
‘The only thing I have made an analysis of is that Bitcoin today consumes as much energy as all of Norway’s energy consumption. It is extremely environmentally hostile,’ claimed Spetalen. ‘The authorities and the EU should ban this immediately. It’s just nonsense.’
A strong, sceptic opinion from Norway’s most famous investor, so what orange pill made him realise Bitcoin is good and this Norwegian would be better off learning Bitcoin truth?
Norwegian Billionaire Completes Bitcoin U-Turn In Record Time
The Norwegian billionaire admitted in a recent interview with Finansavisen that he had invested heavily in Bitcoin and local cryptocurrency exchange Miraiex, which has seen 200% customer growth since the start of 2021.
‘When the facts change, I change,’ Spetalen admitted. ‘I met the Miraiex founders Thuc and Øyvind the day after the podcast was recorded in early March and realized that I had been wrong,’ who also admitted to being spooked by another Norwegian billionaire’s decision to buy Bitcoin.
‘And when I also read that Kjell Inge Røkke had gone into Bitcoin, it was quite obvious. I cannot bear to see that Røkke makes money and not me,’ admitted Spetalen.
Norwegian Billionaire Sets Up Bitcoin Company
Kjell Inge Røkke made news last month after the oil baron established a new company dedicated to Bitcoin.
The company is called Seetee, and is a subsidiary of Kjell Inge Røkke’s main firm Aker ASA, and will build on partnerships the Nasdaq-listed firm opens up for it.
It’s believed that Seetee will initially focus on investing in and owning Bitcoin, and form partnerships with the industry’s leading companies, such as Blockstream as it looks to utilise its parent company’s energy connections.
All business Seetee conducts will center round the Bitcoin industry and like Tesla, the new company ‘will keep all its liquid investable assets in Bitcoin,’ said Seetee’s Norwegian billionaire owner.
At the time, Røkke explained Bitcoin could ‘become the core of a new monetary architecture’ with each coin possibly ‘worth millions of dollars.’
Isn’t Bitcoin Good Norwegian Would
Two of Norway’s most prominent investors now understand the merits of Bitcoin, and are publicly invested in it.
Just a month after dismissing it, Norwegian billionaire Øystein Stray Spetalen did an immediate U-turn and bought Bitcoin.
This is just days after he called for it to be banned, and claimed Bitcoin was an extremely bad for the environment.
His oil baron, billionaire contemporary getting into Bitcoin and creating a company dedicated to Bitcoin certainly triggered him, as did an orange pill session from the guys at cryptocurrency exchange Miraiex.
We can now say, or sing, ‘Isn’t Bitcoin good, Norwegian would,’ and now ‘this bird has flown’ it’s time for other billionaires to discover Bitcoin, ‘yeah, yeah, yeah!’
*Sorry about the terrible Beatles’ puns… They are terrible, but ‘hey dude’, I can have fun!
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.