Analysis: Norway’s Sovereign Wealth Fund Doubles Bitcoin Exposure as Sovereign Funds Increasingly Turn to Cryptocurrency
According to a report by Jinse Finance, data from cryptocurrency research firm K33 Research shows that Norway’s sovereign wealth fund, the world’s largest state-owned wealth fund, increased its indirect exposure to Bitcoin by 192% last year. The fund indirectly holds 7,161 Bitcoins through its investment portfolio, which includes holding companies such as Strategy, Metaplanet, and a certain exchange. Norway’s move to increase its Bitcoin holdings reflects a broader trend: as the world’s first cryptocurrency gradually integrates into the traditional financial system, sovereign wealth funds are gaining indirect exposure through Bitcoin investment vehicles and corporate proxies. In July, Kazakhstan’s sovereign wealth fund announced plans to convert part of its assets into cryptocurrencies.
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