Norway’s Wealth Fund Expands Bitcoin Holdings Significantly

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Cryptodnes2024/08/15 06:42

By:Cryptodnes

Norway’s sovereign wealth fund, NBIM, has increased its Bitcoin holdings to approximately $149.48 million, with a total of 2,446 BTC.

This is up by 938 BTC from the end of last year.

Vetle Lunde, Senior Analyst at K33 Research, suggests that this rise likely results from automated portfolio adjustments rather than a strategic decision to boost Bitcoin exposure. He noted that if the fund had aimed to significantly increase its Bitcoin stake, more direct efforts and larger investments would be evident.

Norway’s Wealth Fund Expands Bitcoin Holdings Significantly image 0

The increase in Bitcoin holdings also reflects broader corporate trends, influenced by figures like Michael Saylor of MicroStrategy and others. Companies such as MicroStrategy, Marathon Digital, and Coinbase have all raised their Bitcoin holdings, highlighting a growing acceptance of Bitcoin for diversification and risk management.

This trend underscores Bitcoin’s potential as a hedge against economic uncertainty. NBIM’s approach might serve as a model for other large institutions considering Bitcoin as a way to manage assets and mitigate risks.

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