Norway Minister of Climate and Environment Is a Bitcoin HODLer

By Dimitar Dzhondzhorov

Sveinung Rotevatn

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

Bitcoin is Exciting

Many experts and officials commented on the crypto bull run and especially Bitcoin’s notable performance in the past months. The Minister of Climate and Environment of Norway – Sveinung Rotevatn – was the latest one to opine about the potential of the primary cryptocurrency.

In a recent YouTube interview, the Norwegian official admitted that he holds an undisclosed amount of BTC. During the podcast, he explained that the cryptocurrency proved to be a ”well-suited store of value.” He even described the digital asset as exciting:

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

Sveinung Rotevatn. Source: Energi Norge

Additionally, Rotevatn spoke about the environmental disputes that Bitcoin mining allegedly causes. He referred to some people’s beliefs that the ”Bitcoin network eats up as much electricity as the state of Texas” but also reminded that the majority of the consumed energy comes from renewable sources.

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

Another Famous Norwegian with BTC

Bitcoin adoption in the Scandinavian country has been a hot topic recently. As CryptoPotato reported last month, the Norwegian billionaire Øystein Stray Spetalen joined the BTC club and bought some of the cryptocurrency. Interestingly enough, his decision came as a surprise since he called the digital asset ”nonsense” just a few weeks earlier.

It’s worth noting that the 58-year old investor changed his mind and at the end of March 2021 upon revealing that he holds BTC. Spetalen even asserted that his opinion in the past about the digital asset was wrong.

Featured Image Courtesy of Minerva