December 9, 2022
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Bitcoin

The Norwegian Minister of Climate and Environment is the Bitcoin HODLer

Norwegian Minister of Climate and Environment – Sveinung Rotevatn – revealed that he owns Bitcoin. According to him, this digital asset is a “well-suited store of value.” The minister of one of the most renewable-energy-focused governments also spoke about the relationship between BTC and environmental challenges.

Bitcoin is exciting

Many experts and officials commented on the boom in cryptocurrencies, especially Bitcoin’s significant results in recent months. Norway’s Minister of Climate and Environment – Sveinung Rotevatn – is another who spoke about the potential of the original cryptocurrency.

In last interview on YouTube, a Norwegian official admitted that he has an undetermined amount of BTC. During the podcast, he explained that the cryptocurrency turned out to be a “well-suited store of value.” He even described the digital asset as exciting:

What can make Bitcoin so exciting is the fact that it has some of the same properties. You can’t suddenly discover a ton of Bitcoin somewhere, giving one country huge reserves. It is distributed evenly, grows slowly but steadily, and has a finite supply… Therefore, it is theoretically well suited as a store of value.

Additionally, Rotevatn spoke of environmental disputes allegedly causing Bitcoin mining. He referred to the belief of some people that “the Bitcoin network consumes as much electricity as the state of Texas” but also recalled that most of the energy consumed comes from renewable sources.

The minister emphasized that Norway is one of the greenest countries, as the nation focuses primarily on the use of renewable energy. Rotevatn also spoke about gold mining and the banking system, claiming that these two industries use far more electricity than mining BTC.

Another famous Norwegian from BTC

Bitcoin adoption in a Scandinavian country has been a hot topic lately. Last month, Norwegian billionaire Øystein Stray Spetalen joined the BTC club and bought some cryptocurrency. Interestingly, his decision came as a surprise as just a few weeks earlier he had called the digital asset “nonsense.”

It is worth noting that the 58-year-old investor changed his mind after disclosing in late March 2021 that he owned BTC. Spetalen even assured that his opinion about the digital asset in the past was wrong.

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