Green Minerals Dives Deep into Bitcoin: $1.2B Fiat Hedge
- Keyword Financial
- 4 days ago
- 3 min read
Introduction
Norwegian deep-sea mining company Green Minerals has announced a major move into the cryptocurrency space, launching a $1.2 billion Bitcoin Treasury Strategy. The company began by purchasing four Bitcoins, valued at around $420,000, as the first step in a broader plan to reduce its reliance on fiat currencies and hedge against inflation and geopolitical risks. This initiative places Green Minerals among a growing number of publicly traded companies that are adopting Bitcoin as a treasury reserve asset, reflecting a shift in corporate financial strategies.
Green Minerals’ executive chairman, Ståle Rodahl, emphasized that Bitcoin’s decentralized and non-inflationary nature makes it an appealing alternative to traditional fiat currencies. The company’s strategy is inspired by the approach of MicroStrategy (now called Strategy), which started accumulating Bitcoin in 2020 and has since seen its stock price soar alongside Bitcoin’s rise. According to Standard Chartered, 61 publicly listed firms with no core crypto focus have adopted similar treasury strategies, highlighting Bitcoin’s emerging role as a hedge against traditional financial risks.
The market reaction to Green Minerals’ announcement has been modest so far, with the company’s stock price rising by 0.68%. However, the move is part of a broader trend, as even traditional financial institutions like JPMorgan are beginning to embrace Bitcoin, with CEO Jamie Dimon revealing plans to offer clients access to Bitcoin investments. This shift signals a growing acceptance of cryptocurrencies on Wall Street and could pave the way for more non-crypto companies to follow Green Minerals’ lead.
