Norway’s $1.7T Sovereign Wealth Fund Boosts Bitcoin Holdings 84% Via Strategy, Metaplanet Buys
Norway’s Norges Bank, the world’s largest sovereign wealth fund with $1.7 trillion in assets, has boosted its Bitcoin holdings by almost 84% in the second quarter, mainly by buying shares in Michael Saylor’s Strategy and Japan-based Metaplanet. That’s according to Standard Chartered, which says Norges Bank raised its total indirect holdings to 11,400 BTC from 6,200 BTC during the period. Standard Chartered’s head of digital asset research Geoffrey Kendrick described the surge as a “proactive position,” reflecting a broader trend of sovereign wealth funds and government entities boosting indirect Bitcoin exposure via treasury-focused firms. Kendrick reached his conclusions by analyzing 13F filings with the US Securities and Exchange Commission (SEC) by companies with holdings in BTC ETFs (exchange-traded funds), Strategy, and Metaplanet. Kendrick recently raised his year-end BTC target to $200K, aligning with Canary Capital CEO Steven M...