The world’s largest sovereign wealth fund, Norway’s Norges Financial institution Funding Administration (NBIM), has amassed $356.7 million in oblique bitcoin (BTC) publicity, based on K33 Analysis.

On the finish of 2024, the fund not directly held 3,821 BTC, reflecting a 153% year-over-year improve from 1,507 BTC, based on K33. The info spotlight the fund’s evolving oblique bitcoin publicity, rising from simply 796 BTC in in 2020.

NBIM additionally maintains stakes in a lot of crypto-related public corporations. As of year-end 2024, its holdings included a 0.72% stake in MicroStrategy (MSTR), equivalent of $500 million, 1.1% of Tesla (TSLA) and investments in Coinbase (COIN), Metaplanet (3350) and MARA Holdings (MARA).

NBIM, which invests income from Norway’s oil and gasoline assets and is formally referred to as the Authorities Pension Fund World, reported record annual profit of $222.4 billion, pushed primarily by the synthetic intelligence (AI) increase.

K33 analyst Vetle Lunde makes the purpose that NBIM’s oblique bitcoin publicity is probably going a results of sector-weighted portfolios. As crypto proxies respect in worth, their portfolio weightings improve.

NBIM declined to remark.