Another Norwegian Billionaire Buys Bitcoin

Recently, it was known that one of the richest people in Norway, Kjell Inge Røkke, had bought 1177 BTC, through the company Seetee.

Being still an unconventional move, he reflects on this move in his letters to his investors: https://www.seetee.io/
Kjell Inge Røkke is a social democrat. Even though he is undoubtedly build his fortune from pennies, many , and his initial road to riches have involved getting subsidies from the state. So Norwegian tax payers has funded lots of his projects. In the shareholder letter his writing style is more of a libertarian. This has been my hypothesis from early days, that the move from fiat will also hardwire people to move to more libertarian, freedom minded tinkering.

Anyways, today it was known that Øystein Stray Spetalen has also bought bitcoin for an unknown amount. This after calling bitcoin bogus a week earlier. I personally saw this move coming. He is often trolling right before doing an investment. It can also be that he tests his hypothesis by taking the opposite standpoint, and saw how ludicrous it was.

For the cryptosphere in general it means that we are starting to see bitcoin go mainstream, which is of course wanted. However, I also see the political battle is going to ramp up. People will start wondering if the state has any legitimate right to tax money not issued by the state. And then the next step is questioning the need for the state at all. At least I do. Bitcoin is looking more and more like the king of sound money.