Norway to Embrace Bitcoin with Open Arms

Norway to Embrace Bitcoin with Open Arms

One after another, the naysayers of Bitcoin are leaving behind their past and hopping on board the gravy train of Bitcoin. The latest boom blast about Bitcoin comes from Norway-the country of polar bears and aurora borealis. The Scandinavian country is not part of the EU but is associated through the European Economic Area (EEA) with the union. Norway made headlines in the crypto-verse when the Norwegian billionaire- Øystein Stray Spetalen, issued a public statement about investing in the flagship cryptocurrency. 

This news comes as a big surprise because, in the past, Spetalen had known to garner a strong opposition towards BTC. He had not only criticized the digital asset on numerous occasions but even campaigned for imposing a ban on BTC within the EU jurisdiction. According to his old statements, Bitcoin is environmentally hostile and a nonsense currency. The 59 years old billionaire also proceeded to endorse the fiat currencies in comparison to the digital assets in the past. 

Spetalen is not the only Norwegian billionaire who has been converted into a “Bitcoiner.” The Bitcoin revolution has also affected local industrial giant Aker ASA. The conglomerate has recently announced the establishment of Seetee AS- a subsidiary company that would be dedicated to investing in BTC ecosystem-based projects and companies. Kjell Inge Røkke- the residing chairperson of Aker wrote a letter addressing the shareholders about the mission statement of the Seetee.

The contents of this letter suggest that Røkke become fascinated by Bitcoin after hearing so much about it in all forms of media streams. It is trending news on every possible platform, and even Wall Street is taking a keen interest in it. Røkke sees BTC as a solution for problems like electricity consumption, scalability, and AML regulations. For Røkke, with BTC, it all comes down to the preservation of asset values. This strong enthusiasm towards BTC also rubbed off on Spetalen, who did not want to be left out when other major players were already raising their stakes.

Bitcoin Making Noise in the Mainstream Media

More Bitcoin conversions are happening in other parts of the world. Well-known former hedge fund manager and CNBC show host Jim Cramer has also been convinced to start investing in the flagship cryptocurrency. The sought-after financial analyst told Katherine Ross in an interview that he has been buying Bitcoin for quite some time now. Cramer wishes to become ‘bigger and bigger and bigger with his recent jog with BTC.

This conversion was put into effect by Anthony Pompliano, who is co-founder of Morgan Creek Digital and has a massive Twitter following. Pompliano invited Cramer on his podcast and managed to get through to him after a hearty debate on the subject. Cramer has reportedly become a BTC enthusiast and advises his audience to take out 50% of their investment from gold and put it into BTC. 

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