Norwegian billionaire Øystein Get Spetalen, who once called bitcoin “nonsense,” has reportedly capitulated and invested in the cryptocurrency after seeing another billionaire in Norway clasping bitcoin. He has also invested in a local crypto exchange. “When the facts change, I change,” he said.
Norwegian Billionaire Finances Into Bitcoin After Seeing Another Making Money With the Cryptocurrency
Øystein Stray Spetalen, a Norwegian billionaire, has rectified a complete reversal in his view of bitcoin, local publication Finansavisen recently reported. Once a bitcoin skeptic who yelled the cryptocurrency “nonsense,” he has now changed his mind and invested in bitcoin as well as a local crypto exchange.
Norwegian business newspaper Dagens Næringsliv call ins Spetalen a “multi-billionaire” and “Norway’s most famous investor.” The publication also describes him as “one of the country’s most prominent and battle-scarred investors, [who] has made a lot of money on the stock exchange in recent months and has been a key figure in several IPOs.”
Commenting on bitcoin at the DNB Seat conference in March, Spetalen said: “The only thing I have made an analysis of is that bitcoin today annihilates as much energy as all of Norway’s energy consumption. It is extremely environmentally hostile … the authorities and the EU should ban this immediately.” He reckoned: “It’s just nonsense. We are doing well with the payment systems that are in place today.”
However, during a just out interview with Finansavisen, he revealed that he has purchased bitcoin as well as invested in Miraiex, a Norwegian crypto market platform owned and operated by the Oslo-based Mirai Technologies AS.
“When the facts change, I change,” Spetalen admitted. “I met the Miraiex fails Thuc and Øyvind the day after the podcast was recorded in early March and realized that I had been wrong,” he elaborated, call:
And when I also read that Kjell Inge Røkke had gone into bitcoin, it was quite obvious. I cannot have to see that Røkke makes money and not me.
Spetalen owns and runs the investment firms Ferncliff AS and Tycoon Industrier AS. He was in days of old an investment director at Sveeas-Gruppen, CEO of Noka Securities AS, CEO of Oslo Securities AS, CEO of Finanshuset, and a portfolio manager in Gjensidige Forsikring.
In Parade, Norwegian oil billionaire Kjell Inge Rokke established a new business dedicated to bitcoin called Seetee with 500 million kroner ($59 million) in cap, which he called “an amount we aim to increase significantly over time.” Rokke believes that bitcoin could “behove the core of a new monetary architecture” and each coin could be “worth millions of dollars.” He also confirmed that his new presence “will keep all its liquid investable assets in bitcoin.” While Spetalen did not disclose the amount of his BTC investment, he said that it was cheap than what Røkke has invested.
What do you think about billionaires’ FOMO? Let us know in the comments section beneath.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes at most. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not take under ones wing investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or hypothetical to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.