Norway’s sovereign wealth fund, the world’s largest with $1.7 trillion in assets, has significantly increased its bitcoin exposure by 83% in the second quarter of 2025, according to Geoffrey Kendrick, Standard Chartered’s global head of digital assets research. This move underscores the growing institutional interest in bitcoin as a viable asset class.
Key Highlights
- Norges Bank Investment Management boosted its bitcoin-equivalent exposure from 6,200 BTC to 11,400 BTC in Q2.
- The majority of this exposure is through MicroStrategy shares, with a minor addition in Metaplanet, often referred to as Japan’s MicroStrategy.
- Kendrick emphasizes that this 83% increase in a single quarter is a proactive position, indicating strong confidence in bitcoin’s value.
Why This Matters
MicroStrategy remains the largest publicly traded corporate holder of bitcoin, with 628,946 BTC worth nearly $74 billion. Metaplanet, though smaller, holds 18,113 BTC valued at over $2 billion. This trend highlights how sovereign wealth funds and government entities are increasingly leveraging corporate holdings to gain indirect exposure to bitcoin.
Broader Implications
Kendrick has been notably bullish on crypto, recently raising his bitcoin price forecast to $135,000 by September 2025 and maintaining a $200,000 year-end target. His long-term projection for 2028 stands at an ambitious $500,000. Beyond bitcoin, he has also revised upwards his predictions for Ethereum, BNB, Avalanche’s AVAX, and XRP, signaling broad optimism across the crypto market.
Market Sentiment
This development is a strong bullish signal for bitcoin, reflecting growing institutional adoption and confidence in its long-term value proposition.
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