The world's largest sovereign wealth fund, Norway's Norges Bank Investment Management (NBIM), has seen its indirect Bitcoin exposure increase to $356.7 million by the end of 2024, according to K33 Research. This reflects a year-over-year increase of 153%. The fund's indirect Bitcoin exposure has been steadily growing, starting from 796 BTC in 2020 and reaching 3,821 BTC in 2024. NBIM also holds stakes in various crypto-related public companies, including MicroStrategy, Tesla, Coinbase, Metaplanet, and MARA Holdings. The fund's increasing Bitcoin exposure is likely due to growing appreciation of crypto proxies in their portfolio. NBIM, also known as the Government Pension Fund Global, reported a record annual profit of $222.4 billion, primarily driven by the AI boom.



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