Analysis: The Norwegian Sovereign Wealth Fund May Have Inadvertently Engaged with Bitcoin
ChainCatcher news reports that Vetle Lundle, a senior analyst at 33 Research, stated that the world's largest sovereign wealth fund, the Norwegian Sovereign Wealth Fund, may have indirectly increased its Bitcoin investment (currently valued at over $144 million) unintentionally. If this was a deliberate move to expose the fund to more Bitcoin, it perfectly illustrates how Bitcoin as an asset is maturing and integrating into any diversified investment portfolio.The indirect investment comes from increased investments in companies that hold Bitcoin. For example, the fund adjusted its holdings in MicroStrategy, making it 0.89% of its total investment portfolio. Additionally, the fund has increased its stakes in Coinbase and Block Inc (formerly Square) and has begun investing in the mining company Marathon Digital.