A Norwegian multinational company Aker ASA announced the establishment of Seetee, a new company exclusively for investing in bitcoin projects and companies. The new establishment will keep its liquid investable assets in Bitcoin.
With an initial capitalization of NOK 500 Million, the first purchase is 1170 BTC worth 58.5 Million.
The primary focus of the company is going to be investing and owning Bitcoin, investing and developing innovative protocols in the blockchain ecosystem, and forming partnerships with market leaders.
The company website read,
“Bitcoin is our treasury asset and our strategy id to Hodl”.
Oyvind Eriksen, President and CEO of Aker said,
“With the launch of Seetee, the Aker group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology and want to contribute forcefully to that effort”.
Seete X Blockstream, the first collaboration
In its first plan of action, Seetee will be partnering with Blockstream.
Blockstream is a leading blockchain technology company that provides open-source and commercial bitcoin technologies, it is a sidechain-based settlement platform for traders and exchanges.
The initial focus of this partnership is on Bitcoin Mining with Aker’s industrial capabilities and also side chain projects.
“ ….these technologies have the potential to reduce frictions in our day to day lives, enhance the security of our digitally-driven economies, and unlock new business models for innovation. We look forward to addressing these and other applications together with Blockstream and other partners.” Eriksen further said.
In the wake of this event, Adam Back, co-founder, and CEO of Blockstream welcomed Aker, in the blockchain system. He said,
“It’s exciting to see Aker dive into the Bitcoin ecosystem with enthusiasm. We will be working closely with Seetee on Bitcoin mining and sidechain projects that benefit Aker’s group of companies and we expect that their rich experience in leveraging global power infrastructure will prove to be a valuable asset to the bitcoin industry”.
This investment is a long thought one, as the man behind Aker Kjell Inge Rokke said this decision was a ‘long and fundamental decision about value’.
Mr. Rokke mentions the decision was made after acquiring detailed knowledge from various books, articles, podcasts, and conversations with people around him.
Some of whom are Chamath Palihapitiya, Michael Saylor, Adam Back, and Saifedean Ammous.
Rokke also understands the paradoxical nature of Bitcoin as he says,
“Bitcoin may still go to zero but it can also become the core of new monetary architecture if so one bitcoin may be worth millions of dollars”.