Norway's wealth fund has significantly increased its Bitcoin holdings by investing in companies with Bitcoin assets. The focus is on investments in MicroStrategy and other firms, highlighting growing institutional interest in cryptocurrencies.
Growing Bitcoin Holdings in Norway
The fund's investment in Bitcoin through MicroStrategy shares has risen to over $500 million, equivalent to 3,821 BTC, marking a 153% increase from the previous year. The fund also owns shares in companies such as Riot, MARA, Coinbase, Canaan, and Metaplanet, indicating its expanding involvement in the crypto world.
Bitcoin's Integration Into Institutional Investments
According to Vetle Lunde, K33's Head of Research, the current exposure results from sector-based asset allocation rather than direct Bitcoin accumulation. MicroStrategy has played a key role in this strategy with its '21/21 plan', aimed at raising $42 billion for Bitcoin purchases, reinforcing its role as a corporate treasury asset.
MicroStrategy and Metaplanet's Strategies
Metaplanet also aims for substantial Bitcoin investments, seeking to gather 21,000 BTC by 2026. Currently, it holds 1,762 BTC, representing 15% of its market cap. The company's long-term goal is to become a Bitcoin-centric bank, capitalizing on the growing adoption of digital assets.
Norway's fund is actively increasing its investments in Bitcoin and Bitcoin-focused firms, reflecting a trend of integrating cryptocurrencies into institutional portfolios. This could be a significant step toward further recognition and adoption of Bitcoin in corporate finance.
