Analyst: Norway's Sovereign Wealth Fund Indirectly Holds 2,446 BTC, Up 938 From End of Last Year

The Norwegian Sovereign Wealth Fund (NBIM) indirectly holds 2,446 Bitcoins, an increase of 938 Bitcoins from December 31, 2023,” said Vetle Lunde, Senior Analyst at K33 Research, on the X platform. This increase likely stems from a predetermined algorithm-based sector weight allocation and risk diversification strategy. It is unlikely to be motivated by a deliberate choice to increase bitcoin exposure - if increasing bitcoin exposure were the goal, we would see evidence of more direct exposure initiatives (and significantly larger exposures).

But in any case, this is a perfect illustration of Bitcoin's growing maturity as an asset to be included in any diversified portfolio. Thanks to the company's bitcoin stockpiling strategy driven by Michael Saylor, Jack Dorsey, Fred Thiel and others, the number of bitcoin “satoshi” indirectly held per capita in Norway by the end of the first half of 2024 amounted to 44,476 “satoshi” (approximately $27). “ (approximately $27).

The increase in indirect exposure stems from: an increase in exposure to MicroStrategy, from 0.67% to 0.89%; MicroStrategy increased its exposure by 37,181 bitcoins in the first half of 2024; exposure to Marathon Digital went from nothing to 0.82%; exposure to Coinbase increased, from 0.49% to 0.83%; and exposure to Block Inc increased, from 1.09% to 1.28%.”