Norway's Sovereign Wealth Fund Reports Significant Bitcoin Involvement
Crypto/Finance

Norway's Sovereign Wealth Fund Reports Significant Bitcoin Involvement

Norway's sovereign wealth fund significantly increased its indirect bitcoin exposure in 2024, reaching over $355 million.

Summary of Norway’s Sovereign Wealth Fund Bitcoin Investment

Norway’s sovereign wealth fund, known as Norges Bank Investment Management (NBIM), has accumulated $356.7 million in indirect bitcoin exposure. This figure reflects a 153% increase year-over-year.

Key Points:

  • As of the end of 2024, the fund held 3,821 BTC, up from 1,507 BTC the previous year.
  • The wealth fund has stakes in bitcoin-related firms like MicroStrategy and Coinbase.

Additional Insights:

NBIM, officially named the Government Pension Fund Global, has seen its investments thrive particularly due to the boom in artificial intelligence. Analyst Vetle Lunde from K33 Research noted that the fund’s growing bitcoin exposure likely resulted from sector-weighted strategies, as proxies of cryptocurrency appreciate in value.

While NBIM declined to comment on this growth, the implications for the future of institutional investment in cryptocurrencies remain significant.

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