Norway, home to the world’s largest sovereign wealth fund, is quietly increasing its exposure to Bitcoin. While the fund does not directly hold Bitcoin, it has indirectly entered the market by investing in companies that already own it. According to K33 Research, the fund’s indirect Bitcoin holdings have grown by 192% over the past year, reaching 7,161 Bitcoin through shares in companies like MicroStrategy, Metaplanet, and Coinbase. This investment strategy allows the fund to benefit from increased Bitcoin prices without directly holding the asset itself. The fund now owns over $1.2 billion worth of MicroStrategy shares, a 133% increase compared to last year, and almost doubled its holdings in Coinbase. This approach is common for government funds that are restricted from investing in Bitcoin directly due to specific regulations. For example, the State of Wisconsin Investment Board invested millions in Bitcoin ETFs and companies like Microstrategy, while Kazakhstan’s national wealth fund plans to allocate part of its gold and currency reserves into cryptocurrencies. This trend signifies a broader shift as major traditional funds navigate the growing integration of digital assets into the global financial system.