Norway’s national wealth fund, run by Norges Bank Investment Management (NBIM), has increased its exposure to Bitcoin by investing in companies that hold the cryptocurrency. By the end of 2024, NBIM’s indirect Bitcoin exposure had risen to 3,821 BTC, worth around $356 million, a 153% gain over the year.
This increased exposure is the result of the fund’s strategic investments in a number of cryptocurrency companies. NBIM owns a big interest in MicroStrategy, a company recognized for its substantial Bitcoin reserves, as well as positions in Coinbase, Riot Platforms, and MARA Holdings. Notably, its position in MicroStrategy alone is worth over $500 million, making it a significant contributor to the fund’s Bitcoin-linked assets.
Despite this growth, analysts believe the exposure is due to rule-based sector diversification rather than a purposeful decision to prioritize Bitcoin. As institutional interest in digital assets grows, Bitcoin is inevitably making its way into diverse financial portfolios.
The development of publicly traded crypto businesses, as well as the debut of spot Bitcoin exchange-traded funds, has fueled broader institutional use of cryptocurrencies. In the United States, these ETFs accumulated more than $124 billion in net assets in their first year, indicating a growing desire among institutional investors.
As the cryptocurrency market matures and regulatory landscapes change, more investors are anticipated to expand their exposure to digital assets. This tendency is already evident in Europe and elsewhere, as institutions understand Bitcoin’s importance in a modern, diverse investing strategy.
