Bitcoin (BTC) could be worth millions of dollars as it becomes the core of a new monetary architecture, says Norwegian billionaire

As Bitcoin recovered from previous corrections and is now trading above $50,000, Norwegian oil billionaire Kjell Inge Rokke expressed his bullish stance on the crypto. He believes that the crypto could be worth millions of dollars and his company, Aker ASA, has put up a business unit that will be focused on Bitcoin investing and blockchain technology.

Aker ASA, which controls construction and oil service companies, announced Monday that it has put up a new business called Seetee AS that will focus on Bitcoin and blockchain technology, Business Insider reported. Rokke is the chairman of Aker ASA, a $6 billion industrial holding company that was established in 2004.

The subsidiary initially capitalized with 500 million kroner or around $58.6 million. The unit is dedicated to investing in Bitcoin-related companies and projects and will keep its liquid assets in BTC.

“Seetee will initially focus on 1) investing in and owning bitcoin, 2) joining the Bitcoin and broader blockchain community and establishing partnerships with leading players, 3) launching Bitcoin verification operations, and 4) building and investing in innovation projects and companies in the Bitcoin and blockchain ecosystem,” Aker ASA announced in a statement.

Seetee plans to partner with other companies in the industry to accelerate its initiatives. For instance, it has already entered into a collaboration agreement with the Bitcoin and blockchain firm Blockstream, a partnership that will initially focus on crypto mining operations.

Rokke, Norway’s second-richest person, acknowledged the risk associated with investing in Bitcoin, the world’s largest crypto in terms of market cap. However, he also highlighted the potential for its price to soar to the seven-digit range as adoption increases.

“Bitcoin may still go to zero,” Rokke said in a shareholder letter, according to Bitcoin.com. “But it can also become the core of a new monetary architecture. If so, one bitcoin may be worth millions of dollars.”

“First, we will use bitcoin as our treasury asset and join the community,” Rokke added. “In bitcoin speak, we will be hodlers. We will be different, but additive. Perhaps not as rebellious as the cypherpunks who invented bitcoin. But much more progressive than most established corporates.”

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