The Norwegian Government Pension Fund (GPP), the world's largest sovereign wealth fund, increased its indirect Bitcoin position by 192 percent last year, according to data from cryptocurrency research firm K33 Research. Norwegian Wealth Fund's Bitcoin Position Increases 192 Percent The fund indirectly holds a total of 7,161 Bitcoins through its investment portfolio holding company, Strategy, Japan-based Metaplanet, and cryptocurrency exchange Coinbase. This amount equates to hundreds of millions of dollars in assets at current market prices. This increase in Norway's Bitcoin investments indicates a strengthening trend for sovereign wealth funds to enter the cryptocurrency market. Bitcoin's increasing integration into the traditional financial system encourages such funds to take positions through companies and investment vehicles that provide crypto exposure, rather than purchasing directly. Similarly, the Kazakhstan National Wealth Fund announced in July that it plans to convert some of its assets into cryptocurrencies. Experts say this trend could be adopted by other sovereign wealth funds in the coming years, especially as Bitcoin's perceived “digital gold” becomes an attractive long-term store of value for sovereign wealth funds. *This is not investment advice. Continue Reading: The World's Largest Sovereign Wealth Fund Increases Its Bitcoin Position to a Record Level! Here Are the Details
