Norwegian and Chinese companies follow tens of billions of bitcoin investments

General companies following Twitter and Tesla also increase investment in virtual assets
Bitcoin, a leading virtual asset [Photo: Shutterstock]

[Digital Today Reporter Hyunwoo Choo] The Norwegian oil chaebol invested in virtual assets (cryptocurrency) worth about 66.9 billion won.

According to the Bitcoin Exchange Guide on the 8th (hereafter local time), Norwegian oil conglomerate Kiel Inge Loke recently plans to buy 500 million krone (about 66.9 billion won) of bitcoin through its own energy development company Acres ASA Revealed.

Prior to this announcement, Acre ASA has already started investing in Bitcoin, and it is known that it currently holds 1170 BTC.

“This investment is the result of sufficient investment review,” said Kiel Inge Loke, in a letter to shareholders. did.

On the same day, economic media CNBC reported that Chinese IT company Meitu also invested 40 million dollars in Bitcoin and Ethereum.

May2 announced that it purchased 379.12 BTC last week for $22.1 million (about 25.2 billion won) and 15,000 ETH and $17.9 million (about 24.4 billion won). May2 also mentioned investment diversification and maximization of long-term investment returns as the background of virtual asset investment. It also announced that it is considering additional investments of up to $100 million.

As a photo retouching app developer, May2 is gaining a reputation as a best-selling app developer that is gaining popularity not only in China but also in the global market.

Recently, the virtual asset market has been recovering from a bearish market. Based on the coin market cap at 10:30 am on the 9th, Bitcoin recorded $53,407, an increase of 3.53% from the previous day. Ethereum is also trading at $1851, up 6.24%.

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.