Norway's sovereign wealth fund, Norges Bank Investment Management (NBIM), has disclosed its ownership of over $500 billion in MicroStrategy (MSTR) stocks. The fund also reported sizeable profits from US tech stocks in 2024.
Growing Indirect Bitcoin Exposure
According to K33's Head of Research, Vetle Lunde, NBIM's indirect Bitcoin exposure through MSTR shares grew by 1199.7341. In 2024, the fund's exposure surged by 153%, attributed to corporate Bitcoin treasury strategies led by figures such as MicroStrategy's Michael Saylor.
Record Profits from Tech Investments
As per a Reuters report on January 29, NBIM recorded an annual profit of 2.51 trillion Norwegian Krone ($222 billion) in 2024. Almost half of the returns were driven by the US technology sector, with Nvidia, Apple, and Microsoft being the top contributors.
Asset Allocation and Returns in 2024
Despite growing Bitcoin exposure, the fund's asset allocation shifted. By the end of 2024, equities comprised 71.4% of the portfolio, up from 70.9% in 2023. Bond investments slightly declined to 26.6% from 27.1%.
NBIM achieved substantial success with its 2024 investments, but CEO Nicolai Tangen warns that such results do not guarantee future stability.
