Norway's Sovereign Wealth Fund Expands Indirect Bitcoin Holdings by 83% in Q2

Norway's sovereign wealth fund expanded its Bitcoin (BTC) exposure by 83% in the second quarter of this year.

According to The Block, a cryptocurrency-focused media outlet, on the 16th (local time), Geoffrey Kendrick, Head of Global Digital Asset Research at Standard Chartered, analyzed, "Norges Bank Investment Management (NBIM), the investment management arm of Norway's central bank, increased its indirectly held Bitcoin—held through shares of Bitcoin-holding companies—from 6,200 BTC in the previous quarter to 11,400 BTC."

Kendrick explained, based on analysis of the 13F report submitted to the U.S. Securities and Exchange Commission (SEC), that NBIM expanded its indirect Bitcoin investment by increasing stakes in MicroStrategy (formerly MicroStrategy) and Metaplanet. Of this increase, most came from MicroStrategy shares, while the additional exposure through Metaplanet amounted to about 200 BTC.

He stated, "It is clear that NBIM's approach to Bitcoin via MicroStrategy is a strategic positioning," adding, "An 83% increase in just one quarter signals an active investment stance." He further noted, "It has become evident that sovereign wealth funds and government agencies are increasing their indirect investments in Bitcoin."

Currently, MicroStrategy is the world's largest publicly listed Bitcoin-holding company, possessing approximately 624,946 BTC (worth about $74 billion). Metaplanet holds around 18,113 BTC (over $2 billion), making it the seventh-largest holder.