Norway’s Sovereign Wealth Fund Doubles Down on Bitcoin Holdings, Increasing Exposure by 83%

Norway’s sovereign wealth fund has significantly bolstered its Bitcoin exposure through stock investments in MicroStrategy and Metaplanet. This move, detailed by Standard Chartered’s Geoffrey Kendrick, saw the fund increase holdings from 6,200 to 11,400 BTC equivalents in Q2 2023. This substantial investment signifies a major commitment to crypto assets, potentially impacting market perception of Bitcoin as a legitimate institutional asset.