Norway’s Sovereign Wealth Fund Enhances Investment in Bitcoin
As Bitcoin (BTC) continues its upward trajectory, inching closer to achieving new all-time highs, its global adoption is expanding noticeably. Highlighting this trend, Vetle Lunde, a senior analyst at K33 Research, recently shared insights on social media regarding Norway’s Sovereign Wealth Fund’s increasing indirect investment in Bitcoin.
Substantial Growth in Bitcoin Holdings by Norwegian Fund
The Norwegian Sovereign Wealth Fund, managed by Norges Bank Investment Management (NBIM), has made a notable increase in its Bitcoin exposure in 2025. Lunde shared:
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This is my favorite chart to update whenever the world’s largest sovereign wealth fund discloses holdings. It efficiently shows that BTC is finding its way into any well-diversified portfolio, intentional or not.
Interestingly, the fund’s Bitcoin holdings have surged to 7,161 BTC, translating to an estimated value of $844 million at current market rates. At the close of 2024, NBIM’s Bitcoin exposure was recorded at 3,821 BTC, indicating a remarkable increase of 3,340 BTC in the first half of 2025 alone. This represents a staggering 192% growth compared to the previous year.
Key Drivers Behind the Increase in Bitcoin Exposure
The expansion in Bitcoin holdings by NBIM can be attributed to strategic investments in key treasury vehicles such as Strategy and Marathon Digital. These entities are prominent players in the public sector with substantial Bitcoin reserves. Data from CoinGecko reveals that Strategy holds an impressive 628,946 BTC, while Marathon Digital possesses 50,000 BTC.
Together, these companies command over 3% of Bitcoin’s total circulation, valued at more than $81 billion under current market conditions. Within NBIM’s holdings, Strategy contributed an additional 3,005.5 BTC, and Marathon Digital added 216.4 BTC.
Significant Contributors to NBIM’s Bitcoin Portfolio
Besides Strategy and Marathon Digital, other significant contributors to the fund’s Bitcoin exposure include Block (with 85.1 BTC), Coinbase (57.2 BTC), Metaplanet (50.8 BTC), and GameStop (33 BTC). Meanwhile, Riot Platforms chose to decrease its exposure by 76.7 BTC.
The Rise of Bitcoin Adoption in 2025
The year 2025 marks a pivotal moment for Bitcoin adoption, as more corporations integrate the cryptocurrency into their financial strategies. This trend, which began prior to 2025, has gained momentum with numerous companies embarking on new fundraising initiatives to bolster their Bitcoin reserves.
In a recent move, Turkish mobility app Marti Technologies announced its intention to allocate 20% of its total cash reserves to Bitcoin. Similarly, Satsuma Technology, based in the UK, is set to expand its Bitcoin portfolio. Furthermore, Galaxy Digital has increased its Bitcoin holdings by 4,272 BTC, while scaling back on Ethereum (ETH) investments.
Currently, Bitcoin is trading at $119,810, experiencing a slight dip of 0.5% over the past 24 hours.
Conclusion
The growing inclination of large financial entities, including Norway’s Sovereign Wealth Fund, towards Bitcoin signals a broader acceptance and integration of cryptocurrencies into mainstream financial portfolios. As Bitcoin navigates new heights, its adoption and institutional backing are likely to continue their upward trajectory, reshaping investment landscapes globally.
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