Norwegian billionaire and investor Eystein Stray Spetalen criticized bitcoin on March 18, but since then he has managed to drastically change his attitude by investing in the cryptocurrency itself and in the exchange.
At this month’s DNB Invest conference, Spetalen said:
“The only conclusion I came to in the course of my analysis is that Bitcoin today consumes as much electricity as the whole of Norway. This is extremely harmful to the environment. The authorities and the EU should immediately ban it. This is just nonsense. The existing payment systems are doing an excellent job with their tasks. ”
During an interview with Finansavisen on Friday, Spetalen unexpectedly announced that he had become an investor in the Norwegian cryptocurrency exchange Miraiex.
“When facts change, so do I. I met with Miraiex founders Took and Oyvid the day after recording the podcast and realized I was wrong. And when I read that Kjell Inge Recke also joined Bitcoin, the choice became obvious. I can’t allow Rekke to make money, but I don’t, ”Spetalen said.
In early March, Norwegian industrial tycoon Kjell Inge Rekke opened Seetee with a capital of 500 million kronor ($ 58.6 million) to invest in bitcoin. Spetalen said that he also bought cryptocurrency, but for a smaller amount.
Seetee cited “the industry opportunities that Bitcoin and blockchain technology are opening up” as reasons for their own investment decision.
“These technologies have the potential to reduce the hardships of everyday life, improve security in the digital economy and unleash innovative business models,” the company said.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.