As Bitcoin (BTC) steadily marches towards setting one other all-time excessive (ATH), the cryptocurrency’s adoption is rising in parallel. In a current X put up, Vetle Lunde, senior analyst at K33 Research, highlighted that Norway’s Sovereign Wealth Fund has elevated its oblique publicity to BTC.
Norwegian Sovereign Wealth Fund Increased Bitcoin Stack
Lunde famous that Norway’s sovereign wealth fund – Norges Bank Investment Management (NBIM) – has considerably raised its oblique BTC publicity in 2025. He remarked:
This is my favourite chart to replace each time the world’s largest sovereign wealth fund discloses holdings. It effectively exhibits that BTC is discovering its manner into any well-diversified portfolio, intentional or not.
Notably, the NBIM fund elevated its Bitcoin stake to 7,161 BTC. At present market costs, that is valued at roughly $844 million.
At the tip of 2024, the fund’s publicity stood at 3,821 BTC, which means its oblique holdings jumped by 3,340 BTC in simply the primary half of 2025. In proportion phrases, that’s an enormous 192% year-on-year improve.
According to Lunde, the surge in BTC publicity was primarily pushed by the fund’s vital positions in core treasury autos similar to Strategy and Marathon Digital. It was additionally supported by sturdy Bitcoin accumulation amongst different high company treasury holders.
Strategy and Marathon Digital are among the many main public corporations with the biggest BTC reserves. Data from CoinGecko exhibits that Strategy at the moment holds 628,946 BTC, whereas Marathon Digital holds 50,000 BTC.
Combined, these two corporations personal greater than 3% of Bitcoin’s whole provide, valued at over $81 billion at present market costs. For NBIM, Strategy added 3,005.5 BTC to its oblique publicity, whereas Marathon Digital contributed 216.4 BTC.
Other notable contributors to the sovereign wealth fund’s Bitcoin publicity embrace Block (85.1 BTC), Coinbase (57.2 BTC), Metaplanet (50.8 BTC), and GameStop (33 BTC). Conversely, Riot Platforms decreased publicity by 76.7 BTC.
2025: The Year Of BTC Adoption
While Bitcoin had already discovered its manner onto company stability sheets earlier than 2025, this yr has seen the pattern speed up quickly. Several corporations have introduced new fundraising initiatives aimed toward rising their BTC holdings.
Last week, Turkish mobility app Marti Technologies revealed plans to carry 20% of its whole money reserves in BTC. UK-based Satsuma Technology additionally pledged to develop its Bitcoin place.
Similarly, Galaxy Digital just lately elevated its Bitcoin holdings by 4,272 BTC whereas decreasing its publicity to Ethereum (ETH). At press time, BTC trades at $119,810, down 0.5% prior to now 24 hours.
Featured picture from Unsplash.com, charts from K33 Research and TradingView.com
Editorial Process for bitcoinist is centered on delivering completely researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent overview by our crew of high know-how consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
