The Norwegian oil fund, NBIM, now has an indirect exposure equivalent to 7,161 bitcoin through investments in companies with BTC on their balance sheets. The exposure is equivalent to 1,387 kronor ($138) per Norwegian.
The Oil Fund's indirect exposure is now at a record high, and has almost doubled since the beginning of the year, when the Oil Fund's indirect ownership equaled 3,832 Bitcoin.
This is evidenced by K33's latest analysis report “Ahead of the Curve” According to K33, this reflects Bitcoin's growing role in traditional finance.
Although the NBIM's mandate limits investments to stocks, bonds and real estate, BTC exposure has steadily increased over the past five years, driven largely by the growing use of Bitcoin in companies' reserve holdings -- both at emerging and established players such as MicroStrategy.
In his analysis, K33 writes: “This exposure is probably an unintended result of NBIM's broad portfolio rather than a deliberate strategic decision, but it illustrates how Bitcoin is increasingly being integrated into traditional finance. As the trend of Bitcoin reserves continues to grow, most index or broadly diversified investors are likely to have a similar indirect exposure.”
%20(1920%20x%201080%20px).jpg)
