The biggest sovereign fund in the world, Norway’s Norges Bank Investment Management (NBIM), raised $ 356.7 million in indirect Bitcoin (BTC), according to K33 Research.
At the end of 2024, the fund indirectly held 3,821 BTC, reflecting an increase of 153% from one year to the other of 1,507 BTC, according to K33. The data highlight the evolution of the indirect Bitcoin exposure, going from only 796 BTC in 2020.
NBIM also maintains participations in a number of public companies linked to the crypto. At the end of 2024, its assets included a 0.72% stake in Microstrategy (MSTR), an equivalent of $ 500 million, 1.1% of Tesla (TSLA) and investments in Coinbase (corner) , Metaplanet (3350) and Mara Holdings (Mara).
NBIM, which invests the income of oil and gas resources from Norway and is officially known as the Global Retirement Funds, said a record annual profit of $ 222.4 billion, mainly driven by the boom Artificial intelligence (AI).
Analyst K33 Vetle Lunde arises that indirect NBIM bitcoin exposure is probably the result of weighted portfolios depending on the sector. As cryptographic proxies appreciate in value, wallet weights increase.
NBIM refused to comment.
