The Norges Bank Investment Management (NBIM) website shows that Norway’s central bank fund holds over $500 million in investment in MicroStrategy, a prominent American firm recognized for its business intelligence and increasing focus on Bitcoin and the crypto ecosystem.
This significant commitment illustrates the growing interest among institutional investors in bitcoin (BTC) and validates MicroStrategy’s strategic decision to invest heavily in this digital asset.
Norway’s Sovereign Wealth Fund Takes a Leap into Bitcoin
The $500 million investment from Norway’s sovereign wealth fund reinforces the perception of Bitcoin as a credible asset. It positions the crypto as a viable option to hedge against inflation and market volatility. Such backing from a major sovereign fund may encourage other institutional investors to evaluate BTC more seriously.
As Vetle Lunde, Head of Research at K33Research, revealed, the NBIM indirect bitcoin bag has increased by 1,375 BTC to 3,821 BTC since June 30, 2024. This represents a yearly growth of 2,314 BTC, a significant 153% increase compared to its Q4 2023 holdings. Its indirect exposure to BTC shows that crypto could be part of any well-diversified investment portfolio.
With the NBIM’s investment, MicroStrategy’s market capitalization is likely to grow, potentially increasing its stock price. This also gives the business intelligence firm more resources to facilitate its next BTC purchase.
In a statement regarding this development, MicroStrategy’s pro-crypto chairman, Michael Saylor, expressed his enthusiasm about securing Norges Bank Investment Management as a key investor whose support reflects the increasing recognition of Bitcoin as a valuable asset and a safeguard against inflation.
Institutional BTC Adoption Soars
Under Saylor’s leadership, MicroStrategy has actively purchased BTC since 2020, currently holding almost 500,000 BTC, establishing itself as the largest institutional holder of Bitcoin.
More corporate investors, like the NBIM, are looking at opportunities in the crypto market. This could increase demand for Bitcoin (BTC) and raise its value. This moment is important for all parties involved in the wider acceptance of crypto in mainstream finance.
Meanwhile, BTC has reached $106,000 and aims for higher highs, fueled by the increasing demand for the apex coin.
