Aker of Norway is a conglomerate across fishing, construction and engineering – the group is 180 years old. Recently, the group got into the crypto space in an interesting way.
Aker set up Seetee, a new company within the group, with an initial capital of 500 million kroner, or about USD 58 million. Seetee will build and invest in bitcoin and blockchain tech.
The part that got the most press is that the company will place its entire liquid assets in bitcoin. As their website says right at the top,
Bitcoin is our treasury asset. Our first purchase was 1,170 BTC and our strategy is to hodl.
– Seetee
And most interesting to me was a wonderfully detailed letter from Seetee (and therefore Aker) to its shareholders. Twenty-three pages long, it describes their view of Bitcoin/cryptocurrency, macroeconomics, energy and finance.
Here is the link [PDF], and I recommend it highly to everyone looking for a sweeping but well-reasoned big-picture vision of bitcoin and cryptocurrency.