Norway's NBIM Indirectly Holds 2,446 BTC: Exposure Increase Through Key Crypto Players
CryptoNewsTerminal Staff14 Aug, 2024
Norway's NBIM Indirectly Holds 2,446 BTC: Exposure Increase Through Key Crypto Players
Norway's sovereign wealth fund, NBIM, has significantly increased its exposure to Bitcoin (BTC) through indirect investments. According to a report by K33 Research, NBIM now holds approximately 2,446 BTC indirectly, a substantial increase from the 938 BTC it held as of December 31, 2023. This increased exposure is attributed to NBIM's investments in several publicly traded companies with significant Bitcoin holdings. These companies include MicroStrategy, Marathon Digital, Coinbase, and Block, all of which have made substantial investments in Bitcoin. NBIM's indirect investment strategy allows it to gain exposure to Bitcoin without directly purchasing and holding the cryptocurrency. This approach provides diversification and reduces the risk associated with direct ownership. The fund's increased exposure to Bitcoin reflects the growing institutional adoption of cryptocurrencies. As more institutional investors enter the market, the demand for Bitcoin and other cryptocurrencies is expected to increase, potentially driving further price appreciation.
