62% Increase in Norway’s Sovereign Wealth Fund’s Indirect Investment in Bitcoin!

Norway’s sovereign wealth fund, a major state investment entity, has made a notable leap in the digital currency world in the first half of 2024. The massive fund has increased its indirect investment in Bitcoin by 62%, now holding 2,446 units of the cryptocurrency in its portfolio.

According to K33 Research’s senior analyst, this significant rise is not the result of a deliberate strategy but rather the outcome of automatic adjustments and efforts to diversify risk. By investing more in major cryptocurrency companies, Norway’s sovereign fund has strengthened its presence in this volatile market.

This bold move by Norway’s sovereign fund aligns with the broader trend among pension funds worldwide. Major investors are increasingly accepting Bitcoin as a viable alternative investment. This new approach reflects a global shift in perspective towards cryptocurrencies and their potential in future financial markets.