Bitcoin is booming, and even massive investment funds are taking notice. Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has quietly become a major indirect Bitcoin holder.
Norway’s Stealth Bitcoin Strategy
A recent analysis revealed that NBIM’s indirect Bitcoin exposure has skyrocketed. The fund now holds around 7,161 Bitcoin, worth roughly $844 million! That’s a huge 192% increase year-over-year. This growth happened mainly because NBIM invests in companies that hold large amounts of Bitcoin as treasury assets.
Who’s Holding All That Bitcoin?
Two major players driving NBIM’s Bitcoin exposure are Strategy and Marathon Digital, both known for their significant Bitcoin reserves. These companies alone hold over 3% of all Bitcoin in existence! Other companies contributing to NBIM’s indirect Bitcoin holdings include Block, Coinbase, Metaplanet, and GameStop. One company, Riot Platforms, actually decreased its Bitcoin holdings during this period.
2025: The Year Bitcoin Went Mainstream?
While some companies had already adopted Bitcoin as a treasury asset, 2025 has seen a huge surge in this trend. Many companies are actively adding Bitcoin to their holdings, including Marti Technologies (Turkey) and Satsuma Technology (UK). Even established players like Galaxy Digital are increasing their Bitcoin holdings while decreasing their Ethereum holdings.
The Bottom Line
Norway’s massive sovereign wealth fund’s significant indirect Bitcoin investment highlights the growing acceptance of Bitcoin as a valuable asset, even among the world’s most conservative investors. This trend shows no signs of slowing down.
