Norwegian billionaire invests in Bitcoin

The Norwegian billionaire Øystein Stray Spetalen invested in Bitcoin and the country’s largest digital-asset exchange a week after harshly criticising the leading cryptocurrency, according to Finansavisen.

On March 18, during the DNB Invest conference, Spetalen noted that Bitcoin uses as much electricity as all of Norway. He added that authorities should immediately ban the “pointless currency,” as it harms the environment.

“This is nonsense. We are fine with the existing payment systems,” he concluded.

The next day the billionaire spoke with the founders of the Oslo-based bitcoin exchange Miraiex and realised that he had been mistaken, the publication reports.

Another argument in favour of cryptocurrency for Spetalen were investments in it by Helle Inge Rekke. In early March, the industrial magnate created a subsidiary Seetee, which купила 1170 BTC for 500 million kroner ($58 million).

“I can’t see how Rekke makes money, and not me,” said Spetalen.

According to him, he bought Bitcoins at a lower price than Seetee.

The billionaire also took a stake in Miraiex and joined the board of directors.

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