Norway’s Bitcoin Exposure Hits 7,161 BTC in 2025

Key Takeaways

• Norway’s sovereign wealth fund now holds an indirect exposure of 7,161 BTC, worth $862.8 million.
• Major investments in Strategy, Block, Coinbase, MARA, and Metaplanet fuel this rise.
• Exposure has surged 87.7% in six months and 192.7% in a year.

Norway’s Bitcoin Exposure Surges Past $1 Billion

Norway’s centrally managed NBIM (Bank of Norway’s Investment Fund), has really ramped up its BTC position via tokens or depository receipts representing 7,161 BTC, approximately equal^z to $862.8 million as of the last day of the second quarter of 2025. That is nearly a two-fold increase from the same period last year and more than an 87% hike in just half a year, as K33 Research Head Vetle Lunde reports.

Norway sovereign wealth fund’s indirect bitcoin exposure grows to 7,161 BTC as its Strategy holdings surpass $1 billion: K33 https://t.co/mFxK17rHnV

— The Block (@TheBlock__) August 13, 2025

Most of the increase can be explained^q by the NBIM decision to move more money into Strategy, where the stake went from 0.72% at the end of 2024 to 1.05% at the midpoint of 2025, and by the company’s own rapid accumulation of Bitcoin, which reached 145,945 BTC in the first half of 2025. Apart from these, the investments in Block, Coinbase, MARA, and Metaplanet also made contributions to the rise.

A Case Study of Bitcoin in Mainstream Finance

According to Lunde, the exposure to BTC at NBIM was probably not a conscious decision since it is a truly diversified portfolio close to $1.5 trillion in total value. Confidence in Bitcoin, however, is not simply based on gold-standard funds but on mainstream institutions holding it via other companies that already have the coin.

Dividing the fund’s holdings among each individual Norwegian, the amount revealed^q per capita exposure is 1,387 NOK (approximately $138). Lunde adverts that the emerging pattern of corporate BTC treasuries probably means any index or diversified investor automatically has some indirect Bitcoin exposure.

Summary

Norway’s sovereign wealth fund has reached a record high in indirect Bitcoin holdings, now worth over $1.1 billion through its strategic equity positions in BTC-heavy companies. While not a direct crypto investment strategy, this case highlights Bitcoin’s deepening integration into traditional finance and institutional portfolios.

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