Categories: MarketsMenafn

Norway’s NBIM Sees 153% Surge in Indirect Bitcoin Holdings Through Corporate Investments

Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has increased its indirect exposure to Bitcoin (BTC) through investments in cryptocurrency-related companies. 

According to K33 Research, the fund’s Bitcoin exposure reached 3,821 BTC, valued at approximately $356 million by the end of 2024, marking a 153% increase over the year.

Moreover, the report shows fund’s exposure grew by 1,375 BTC between June and December 2024. Vetle Lunde, K33 Research’s head, noted that this increase was likely due to rule-based sector weighting rather than a strategic decision to prioritize Bitcoin. He described it as an example of how BTC is “increasingly becoming part of diversified investment portfolios”:

NBIM’s indirect exposure is one of the strongest examples of how BTC is slipping into any well-diversified portfolio, and the growth is a testament to the market maturing and BTC ending up in any well-diversified portfolio, intended or not.

Source: K33 Research.

The fund’s indirect Bitcoin exposure comes from a $500 million stake in MicroStrategy, as well as investments in cryptocurrency exchange Coinbase and BTC mining firms Mara Holdings and Riot Platforms.

Norway’s Government Pension Fund Global, one of the world’s largest sovereign wealth funds, recorded $222 billion in profits in 2024, achieving a second consecutive year of record gains. NBIM’s CEO, Nicolai Tangen, told Ruters that he credits the strong performance to major gains in the technology sector.

NBIM’s Shares Of MicroStrategy

NBIM holds 0.72% of the MicroStrategy’s shares, valued at $514 million as of December 31, 2024. This equates to an exposure of 3,214 BTC. While its ownership percentage in MicroStrategy declined from 0.89% in June 2024, the actual number of shares it held increased from approximately 1.12 million to 1.58 million over the same period, as per data from Yahoo Finance.

Lunde had expected a more significant decrease in NBIM’s MicroStrategy stake due to the company’s “21/21 plan,” which aimed to raise $42 billion in capital through equity and fixed-income offerings for additional BTC purchases, potentially diluting the total number of shares outstanding.

Read more: Ondo Finance Debuts Tokenized US Treasury Fund on the XRP Ledger: Details

Other major sources of NBIM’s indirect BTC exposure include its holdings in MARA (0.71% of shares, equating to 315 BTC), Tesla (1.1% of shares, 106.9 BTC), Coinbase (0.85% of shares, 80.6 BTC), and Riot Platforms (0.44% of shares, 76.7 BTC).

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

El Salvador Amends Bitcoin Law to Comply With IMF

El Salvador has voted to amend its Bitcoin legislation as part of a financial reform…

16 hours ago

Walletium Space: The Next Generation in Crypto Wallets

London, United Kingdom, 17th Jan 2025, - London, England - 16 January 2024 - Walletium…

22 hours ago

ABC Conclave Dubai 2024: Pioneering the Next Wave of AI, Web3, and Gaming

ABC Conclave Dubai 2024, the world’s largest Web3 conclave, has successfully wrapped up as it…

1 day ago

Coinbase Ramps Up Political Influence, Adds Trump Strategist and Former Fed President to its Advisory Council

Coinbase exchange has announced that US President Donald Trump’s co-campaign director for the 2024 election…

1 day ago

Galactic Goats Sets Launch Date, Making HODLing Feel Like Herding in Crypto

Hannover, Germany, 30th January 2025, ZEX PR WIRE, Galactic Goats and its team are happy…

1 day ago

US Official David Sacks Accuses DeepSeek of Intellectual Property Theft

A US official has labeled China’s DeepSeek AI a possible instance of intellectual property theft.…

2 days ago