Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with $1.7 trillion in assets, increased its Bitcoin-linked investments by 83% in Q2, Standard Chartered said.
Geoffrey Kendrick, Standard Chartered’s head of digital assets research, tracked SEC filings and found that Norges Bank Investment Management, the fund’s operator, raised its Bitcoin-equivalent exposure from 6,200 to 11,400 BTC. The bulk of the holdings are in MicroStrategy, with a smaller position in Japan’s Metaplanet.
“The scale of this increase suggests active positioning,” Kendrick said. “Norges is clearly using MSTR as a Bitcoin proxy.”
