💰 Norway’s $1.6T Wealth Fund Holds $900M in Bitcoin 🚀
Norway’s sovereign wealth fund, Norges Bank Investment Management (NBIM), has boosted its indirect Bitcoin holdings to 7,161 BTC, valued at $862.8 million as of June 30, according to K33 Research. This represents an impressive 87.7% growth over the past six months and 192.7% growth over the last year.
Key Insights:
Bitcoin Exposure via Diversified Investments: NBIM's growing Bitcoin holdings have been primarily through its investments in companies like Strategy (a business intelligence and corporate BTC treasury firm). NBIM owns 1.05% of Strategy’s shares, valued at $1.18 billion, up from 0.72% in 2024. Strategy added 3,340 BTC to NBIM’s indirect exposure in the first half of 2025 by increasing its BTC holdings by 145,945 BTC.
Corporate Bitcoin Accumulation: The trend of companies like Block, Coinbase, MARA, and Metaplanet holding large BTC reserves has contributed to the wealth fund’s increased exposure.
Bitcoin in Mainstream Portfolios: According to Vetle Lunde, Head of Research at K33, Bitcoin is becoming an integral part of diversified financial portfolios. Lunde notes, “Any investor with a diverse equities portfolio today likely has indirect exposure to Bitcoin.” As more companies add BTC to their treasury, this trend is expected to continue.
Norwegian BTC Exposure: The average Norwegian now has 1,387 Norwegian kroner (about $138) in Bitcoin exposure.
Price Outlook:
BTC's Performance: Bitcoin has risen just 1.5% against the US dollar index, but has underperformed compared to January highs in euros. Lunde highlights the critical price level of €105,600 for BTC in euro terms, showing how currency fluctuations affect Bitcoin's global price.
Takeaway:
Bitcoin’s adoption is expanding, with sovereign wealth funds like NBIM leveraging indirect exposure to BTC through a diverse range of investments. As corporate treasury adoption grows, more investors will likely gain exposure to Bitcoin without directly holding it.