It seems that Norwegian billionaires are starting to rush to invest in Bitcoin.

According to the local website Finansavisen, last week the billionaire was demanding that European Union authorities banish Bitcoin. The argument was that the cryptocurrency emits a “considerable amount of CO₂”, consuming more energy than its entire country.

Norwegian investing mogul Øystein Stray Spetalen, which wanted to ban bitcoin, purchased cryptocurrency exchange company,  MiraiEx.


Spetalen, at the DNB Invest conference, that took place in Norway at March 18, regarding the Bitcoin footprint, said:

 “Bitcoin today consumes as much energy as all of Norway. It is extremely environmentally hostile. The authorities and the EU should ban it immediately. Then you’d cut CO2 emissions considerably.”

And then he continued, stating that “It’s just nonsense. We’re doing well with the payment systems that are in place today.”

However, last Friday, 26, his opinion about Bitcoin had changed. The billionaire stopped criticizing the digital currency and became the owner of one of the largest cryptocurrency brokers in Norway, MiraiEx.

Billionaire says Bitcoin doesn’t make sense but invests heavily in cryptocurrency

During an interview, he stated that his stance had changed after he met with the founders of the brokerage firm he invested in:

“When the facts change, I change. I met the MiraiEx founders Thuc and Øyvind the day after the podcast was recorded, early in March, and I realized that I had been wrong. And when I also read that [industrial magnate and fellow Norwegian billionaire] Kjell Inge Røkke had got into Bitcoin, it was quite obvious. I can’t bear to see that Røkke makes money and not me” 

Kjell Inge Rokke is another Norwegian billionaire and oil tycoon who revealed that he invested in Bitcoin last month.

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Spetalen invested in Bitcoin and the cryptocurrency broker. This made the MiraiEx spokesman react and say:

As he himself admits, the platform did not need any new capital at the moment, but he confessed that additional funds will help it expand more quickly.

“We didn’t need money. We accepted it just because we wanted to grow faster. ”

Spetalen is one of the most experienced investors in the country, he has made a lot of money on the stock exchange in recent months and has invested in several IPOs.

With a fortune valued at US$4.33 billion, his biggest investments today include the green investment company Saga Pure, the technology company Arribatec Solutions, the children’s watch company Xplora Technologies, and now Bitcoin.


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