Norway’s $1.7T Wealth Fund Increased Bitcoin Exposure by 83% in Q2

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Norway’s sovereign wealth fund, the world’s largest at $1.7 trillion, significantly boosted its Bitcoin-linked holdings in Q2, according to Standard Chartered.

Geoffrey Kendrick, the bank’s global head of digital assets research, said the fund increased its Bitcoin-equivalent exposure from 6,200 to 11,400 BTC—an 83% jump.

Kendrick analyzed SEC filings and found that Norges Bank Investment Management, which operates the fund, expanded its positions in MicroStrategy (MSTR) and Metaplanet, often dubbed “Japan’s MicroStrategy.”

The bulk of the exposure remains in MicroStrategy, with only about 200 BTC-equivalent added via Metaplanet.

“Norges is using MSTR as a way to gain exposure to Bitcoin,” Kendrick said. “An 83% increase in one quarter is clearly a proactive move.”