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

Norges Bank Investment Management (NBIM), the operator of Norway’s $1.7 trillion Government Pension Fund Global and the world’s largest sovereign wealth fund, has sharply increased its exposure to Bitcoin-linked assets, according to analysis of recent regulatory filings.

Geoffrey Kendrick, global head of digital assets research at Standard Chartered, said his review of the latest 13F filings with the U.S. Securities and Exchange Commission revealed that NBIM boosted its positions in both Strategy (formerly MicroStrategy, ticker MSTR) and Metaplanet, often dubbed “Japan’s MicroStrategy.”

The fund’s Bitcoin-equivalent holdings surged from 6,200 BTC at the end of the first quarter to 11,400 BTC by June 30 – an 83% increase in just three months. Kendrick highlighted that the bulk of the exposure comes through Strategy, which itself holds over 628,000 BTC on its balance sheet, with a smaller allocation of roughly 200 BTC-equivalent made via Metaplanet.

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The move underscores how even the world’s most conservative institutional investors are leaning further into Bitcoin during its current cycle. NBIM’s position remains relatively modest compared to its $1.7 trillion total assets under management, but the scale-up highlights growing confidence in Bitcoin as a treasury and portfolio hedge.