Norway’s Largest Pension Fund Adds Strategy Shares, Stake Nears $20.5 Million

Source

JOON HYOUNG LEE

Summary

KLP Kapitalforvaltning AS, Norway’s largest pension fund, added to its Strategy shares.
KLP’s Strategy holdings rose to 104,680 shares from 95,160 shares, bringing the stake’s value to $20.5 million.
BitcoinTreasuries said the stake increase shows KLP is strategically expanding its Bitcoin exposure through equity investment.

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Norway’s largest pension fund, KLP Kapitalforvaltning AS, has added to its holding in Strategy.

Data from BitcoinTreasuries on May 12 showed KLP increased its Strategy holdings by nearly 10% to 104,680 shares from 95,160 shares. The stake is worth about $20.5 million.

KLP is a pension fund that manages retirement assets for employees of local governments and public institutions across Norway. It has about $110 billion in assets under management.

The latest purchase suggests KLP is increasing its Bitcoin exposure. BitcoinTreasuries said European institutions are expanding such exposure by increasing holdings in Strategy instead of buying Bitcoin directly, pointing to the Swiss National Bank as another example. The increase in KLP’s stake shows the fund is strategically using equity investments to raise its Bitcoin exposure, it added.

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