Norway’s Sovereign Fund Increases Indirect Bitcoin Holdings by 192%

Norway’s $1.9 trillion sovereign wealth fund increased its indirect Bitcoin holdings by 192% within a year, reflecting its investment in BTC-heavy companies like Strategy, Marathon Digital, and Coinbase.

This significant exposure indicates a potential shift in institutional portfolios, showing increased confidence in Bitcoin’s role as a macro-hedge within traditional finance systems.

The Norwegian sovereign wealth fund has increased its indirect Bitcoin exposure by 192% over a year. This move was achieved through equity stakes in companies heavily invested in Bitcoin.

Norway’s fund, managed by Norges Bank, now holds 7,161 BTC indirectly via firms like Strategy, Marathon Digital, and Coinbase. Vetle Lunde of K33 Research noted these strategic investments.

Market Implications

The increased exposure could bolster confidence in Bitcoin’s role in global portfolios. Companies like Strategy, Marathon Digital, and Block are pivotal in this shift.

While Bitcoin surges seem likely, no direct blockchain or altcoin allocations were observed. The focus remains on equity investments in BTC-heavy companies.

There’s no reaction from major names like Arthur Hayes or regulatory bodies. NBIM’s strategy involves indirect BTC holdings via equities.

Historical trends show institutional adoption, like Tesla’s, has increased Bitcoin’s price. This could encourage other funds towards equity-based strategies in cryptocurrencies.

This action is interpreted as a further legitimization of Bitcoin as a macro-hedge within global diversified portfolios. – Vetle Lunde, Senior Analyst, K33 Research