Standardcoin: Spetalen & Friends Take the Bitcoin Plunge
From offshore supply to on-chain supply – Norway’s boldest investors rebrand and reload for the Bitcoin era.
By NordicsBitcoin.com Staff 20/6/25
Standard Supply is dead. Long live Standardcoin.
In what might be one of the most dramatic pivots the Oslo Stock Exchange has seen, Øystein Stray Spetalen’s offshore supply company has officially shed its past and declared itself a full-fledged Bitcoin investment vehicle. The move isn’t just a name change - it’s a signal flare from some of Norway’s most high-profile investors: we’re not sitting this out.
After months in strategic limbo following the sale of its core assets, Standard Supply has emerged from its shell with a new ambition, and NOK 40 million (USD 4 million) in fresh capital - overshooting its NOK 35 million target thanks to investor appetite that.
Among the backers? A who's who of Norwegian capital:
Spetalen himself, via SD Standard ETC
Shipping magnate Arne Blystad
Market maestro Arne Fredly
Titan Venture’s Espen Westeren
Alundo Invest’s Ketil Skorstad and Kristian Lundkvist
Middelborg Invest (Lundkvist again, clearly doubling down)
The offer was priced at NOK 27 per share - a 30% premium to the trading price on Thursday’s close before the announcement - suggesting this crew isn’t here to scalp. They're here to stack. The stock opened for trading on Friday at NOK 35.70, running up to NOK 40.80 before being halted at time of publishing.
Bitcoin Goes Boardroom
“We want to be a central Nordic hub for Bitcoin exposure, this is just the first step” said CEO Eldar Paulsrud,
Standardcoin plans “active portfolio management,” but let’s not kid ourselves - this isn’t about dabbling, which at a time when Bitcoin trades north of $104,000, conviction matters.
Bitcoin’s market cap has now crept within whispering distance of Alphabet. And as global capital slowly realigns toward what many see as the hardest asset of the century, Standardcoin wants to offer public market investors an on-ramp - with liquidity, transparency, and, apparently, Norwegian flavor.
From Skeptic to Maxi
Spetalen’s road to Bitcoin hasn’t been straight. In 2021, he famously dismissed the whole thing as "nonsense" - only to buy into crypto exchange Miraiex days later.
“When I read Røkke was in, it was obvious,” he said at the time. “I can’t stand watching him make money and not me.”
Say what you will, the man adapts. He made his fortune reading the tide before the rest of the beachgoers even noticed the water rising.
That same year, Kjell Inge Røkke launched Seetee through Aker, injecting half a billion kroner into Bitcoin. It was bold. But now, with Standardcoin, Spetalen might finally be matching Røkke in scale - if not style.
Not Alone on the Ledger
Standardcoin’s play comes hot on the heels of another Bitcoin heavyweight maneuver: K33, the Stockholm-listed crypto firm chaired by Torbjørn Bull Jenssen, just raised SEK 85 million to continue its BTC treasury build-out.
Their goal? 1,000 Bitcoin. So far, they’re at 25.
Jenssen knows it’ll take more raises. But the ambition is clear: turn K33 into Scandinavia’s Strategy Inc. Now, with Standardcoin charging out of the gates, there may be competition for that crown.
A New Asset Class – or the Oldest One Reborn?
Bitcoin has weathered macro storms, regulatory headwinds, and more than its fair share of obituary headlines. Yet it keeps rising - and with it, so does institutional interest.
For investors like Spetalen, Fredly, and Blystad, the move into Bitcoin isn’t a punt. It’s a thesis: that the world is changing, and those who adapt can thrive.
Standardcoin’s sudden transformation might sound bold — even brazen — but in a financial world increasingly shaped by digital scarcity, it might just be… standard.