# Norway Boosts Bitcoin Holdings Through MicroStrategy Stock
The Norwegian central bank indirectly holds over $500 million in Bitcoin through investments in MicroStrategy and other crypto-related firms.
A report by K33 Research reveals that Norway’s indirect Bitcoin exposure has nearly quadrupled in the past year due to increased investments in companies linked to cryptocurrencies.
According to K33 Research’s head of research, Vetle Lunde, as of December 2024, Norway’s sovereign wealth fund holds 0.72% of MicroStrategy’s total shares, valued at approximately $514 million. This investment equates to an indirect exposure of roughly 3,214 Bitcoins.
Although the Norwegian central bank has been investing in MicroStrategy since 2009, this trend has accelerated in the past year as the company has solidified its position as the largest corporate holder of Bitcoin. MicroStrategy remains the largest crypto-related investment for Norway’s sovereign fund, which is overseen by the central bank and managed by Norges Bank Investment Management.
In addition to MicroStrategy, Norges Bank Investment Management also holds shares in other companies with Bitcoin exposure. These include Tesla, Bitcoin mining companies Marathon Digital and Riot Platforms, the cryptocurrency exchange Coinbase, and Tokyo-based Metaplanet.
These investments collectively represent over $61 million in indirect Bitcoin exposure. Lunde suggests that Norges Bank Investment Management’s investment strategy may follow a rules-based industry weighting rather than a direct Bitcoin acquisition program.
However, Lunde also highlights the specificity of some of Norges Bank Investment Management’s investment choices, indicating that Bitcoin is increasingly finding its way into global institutional portfolios.
Norway’s interest in companies that hold significant amounts of Bitcoin has gained attention over the past year. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
As per papers made public in the month of August, the main financial institutions of Norway and Switzerland have made considerable purchases of MicroStrategy shares. This occurs as the corporation situated in Tysons Corner continues to grow its Bitcoin possessions, additionally linking its destiny with the cryptocurrency industry.
