Norwegian Billionaire Who Called for Bitcoin Ban Abruptly Changes His Mind – Here’s Why

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A Norwegian billionaire who denounced Bitcoin just did a 180 after revealing that he had investments in BTC and in the crypto ecosystem.

At the DNB Invest conference, Norwegian business tycoon Øystein Stray Spetalen made his stance on Bitcoin very clear.

“The only thing I have made an analysis of is that Bitcoin today consumes as much energy as all of Norway’s energy consumption. It is extremely environmentally hostile. If one really meant anything about Bitcoin, the authorities and the EU should ban this immediately… It’s just nonsense. We are doing well with the payment systems that are in place today.”

Nine days later, in an interview with Finansavisen, Spetalen unveils that he not only bought Bitcoin but also invested in Norway-based crypto exchange MiraiEx. He says he was wrong about the flagship cryptocurrency, and that he also couldn’t stand watching a fellow Norwegian billionaire make money on BTC without him.

“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 Kjell Inge Røkke had gotten into Bitcoin, it was quite obvious. I can’t bear to see that Røkke is making money and not me”

Røkke announced earlier this month that he had established a new firm called Seetee, a firm specifically dedicated to investing in Bitcoin and the Bitcoin ecosystem.

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