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“Crypto Week” in the US: Potential Gamechanger
Aker, a Norwegian industrial conglomerate, is closely monitoring developments in the cryptocurrency market and the evolving regulatory landscape, notably how new rules will impact the industry. however, the company’s primary investments remain in oil and gas, not Bitcoin.
The company’s involvement with Bitcoin is part of a broader strategy to embrace new technologies and adapt to societal changes.Aker’s CEO,Øyvind Eriksen,stated that their Bitcoin initiative requires significantly fewer resources compared to their core operational businesses. He confirmed that Aker has not bought or sold Bitcoin during the recent quarter and has no immediate plans to do so.Accounting for Value Increase
Aker’s quarterly report highlights the recent surge in Bitcoin’s prominence. In line with the rising Bitcoin price, the group has revalued its holdings in Seetee, a company that possesses 754 bitcoin. Aker holds a 90 percent stake in Seetee. As of June 30, the end of the reporting period, Aker’s share in Seetee was valued at NOK 769 million. This represents an increase from NOK 450 million recorded on March 31, indicating an on-paper gain of over NOK 300 million for Aker from its Bitcoin investment in the second quarter.
“Crypto Week” in the USA
Bitcoin, the leading cryptocurrency, has recently reached unprecedented price levels. Earlier in the week, its price surpassed $120,000 for the first time. On Wednesday, a single Bitcoin was trading at $118,515, equivalent to more than NOK 1.2 million.
This record-breaking price coincides with the U.S. House of Representatives’ consideration of three significant bills related to cryptocurrency, an event the House has designated as “Crypto Week.” Republicans have characterized these bills as pivotal for American leadership in the crypto space, aligning with President Trump’s stated agenda to make the United States a “bitcoin superpower.” The President has appointed several crypto enthusiasts to key positions within his administration.
