Norwegian billionaire Øystein Stray Spetalen, who once called bitcoin “nonsense,” has reportedly capitulated and invested in the cryptocurrency after seeing another billionaire in Norway embracing bitcoin. He has also invested in a local crypto exchange. “When the facts change, I change,” he said.
Norwegian Billionaire Gets Into Bitcoin After Seeing Another Making Money With the Cryptocurrency
Øystein Stray Spetalen, a Norwegian billionaire, has made a complete reversal in his view of bitcoin, local publication Finansavisen recently reported. Once a bitcoin skeptic who called the cryptocurrency “nonsense,” he has now changed his mind and invested in bitcoin as well as a local crypto exchange.
Norwegian business newspaper Dagens Næringsliv calls Spetalen a “multi-billionaire” and “Norway’s most famous investor.” The publication also describes him as “one of the country’s most prominent and experienced investors, [who] has made a lot of money on the stock exchange in recent months and has been a key figure in several IPOs.”
Commenting on bitcoin at the DNB Invest conference in March, Spetalen said: “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 … the authorities and the EU…