Key Takeaways
- Norway’s sovereign wealth fund now has 3,821 BTC in oblique publicity.
- MicroStrategy accounts for 3,214 BTC of NBIM’s Bitcoin publicity.
- NBIM’s Bitcoin-linked investments grew 153% year-over-year.
Norway’s sovereign wealth fund, managed by Norges Financial institution Funding Administration (NBIM), noticed its oblique Bitcoin publicity develop 153% year-over-year, reaching 3,821 BTC ($400 million) as of December 31, 2024, in accordance with K33 Head of Analysis Vetle Lunde.
MicroStrategy dominates holdings
NBIM’s largest oblique Bitcoin holding comes from its stake in MicroStrategy, the place it owns 0.72% of the corporate’s shares, valued at $514 million.
This interprets to an publicity of three,214 BTC, making it the dominant contributor to Norway’s Bitcoin-linked property.
Different holdings impacting NBIM’s Bitcoin publicity embody:
- MARA (0.71% possession): 315.2 BTC
- Tesla (1.1% possession): 106.9 BTC
- Coinbase (0.85% possession): 80.6 BTC
- Riot Platforms (0.44% possession): 76.7 BTC
Funding technique evaluation
Lunde emphasised that NBIM’s Bitcoin publicity is probably going unintentional, stemming from its rule-based sector weighting quite than a direct funding technique.
Lunde acknowledged on Wednesday:
It is very important spotlight that this publicity probably derives from rule-based sector weighting quite than a deliberate option to prioritize BTC publicity.
Historic development trajectory
Regardless of this, the fund’s Bitcoin publicity has grown from $23 million in 2020 to $356 million in 2024, reflecting Bitcoin’s growing integration into conventional monetary markets.
Lengthy-term partnership with MicroStrategy
NBIM has been investing in MicroStrategy since 2009, and its funding worth within the firm has surged over sevenfold up to now yr.
MicroStrategy’s ongoing Bitcoin acquisitions, spearheaded by co-founder Michael Saylor, have considerably influenced NBIM’s publicity.
Per capita impression
The Norwegian fund’s Bitcoin-linked investments now stand at 68,837 satoshis per capita ($64 per individual), reinforcing its rising—if oblique—stake within the Bitcoin ecosystem.