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Cryptocurrency News Articles
Norway's $1.3 Trillion Wealth Fund Has Indirect Exposure to $356.7M in Bitcoin
Jan 30, 2025 at 08:46 pm
The world's largest sovereign wealth fund, Norway's Norges Bank Investment Management (NBIM), has amassed $356.7 million in indirect bitcoin
World’s largest sovereign wealth fund now has $356.7 million in indirect bitcoin exposure. At the end of 2024, the fund indirectly held 3,821 BTC, reflecting a 153% year-over-year increase from 1,507 BTC. The data highlight the fund’s evolving indirect bitcoin exposure, growing from just 796 BTC in in 2020.
The fund also maintains stakes in a number of crypto-related public companies. As of year-end 2024, its holdings included a 0.72% stake in MicroStrategy, equivalent of $500 million, 1.1% of Tesla and investments in Coinbase, Metaplanet (3350) and MARA Holdings.
NBIM, which invests revenue from Norway’s oil and gas resources and is officially known as the Government Pension Fund Global, reported record annual profit of $222.4 billion, driven primarily by the artificial intelligence boom.
K33 analyst Vetle Lunde makes the point that NBIM's indirect bitcoin exposure is likely a result of sector-weighted portfolios. As crypto proxies appreciate in value, their portfolio weightings increase.
NBIM declined to comment.
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