Norges Bank, the Norwegian sovereign wealth fund that indirectly holds 3,821 BTC, lost $40 billion in the first quarter.
2025-04-28 02:00:25
Norges Bank, the Norwegian sovereign wealth fund, lost about $40 billion in Quarter 1 in 2025, mainly due to the poor performance of the US technology sector. By the end of 2024, the fund indirectly held about 3,821 bitcoins through holdings in companies such as MicroStrategy, Coinbase, Marathon Digital, and Riot Platforms, with a market capitalization of about $356 million. Although there is no indication that the fund will invest directly in bitcoin or related ETFs, market analysis indicates that sovereign funds may consider bitcoin as a hedge tool given the risk of a global trade war and economic recession. For example, Abu Dhabi-based Mubadala Investments already holds a $437 million share of a spot bitcoin ETF, while the Norwegian fund is still primarily index-driven and has yet to show signs of increasing its crypto asset allocation.
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