Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has significantly increased its indirect exposure to Bitcoin, totaling 3,821 BTC or approximately $356 million by the end of 2024. This represents a remarkable annual growth of 153%. K33 Research noted that the fund accumulated an additional 1,375 BTC from mid-2024. The gains in Bitcoin exposure stem from NBIM's investments in cryptocurrency-related companies like MicroStrategy, Square, Tesla, and others. CEO Nicolai Tangen highlighted that 2024 was another strong year for the fund, achieving $222 billion in profits, mainly from technology sector gains. The rise of cryptocurrency firms and the emergence of spot Bitcoin exchange-traded funds (ETFs) have facilitated institutional access to Bitcoin, further expected to amplify as regulatory clarity in the U.S. improves. A survey from Swiss crypto bank Sygnum revealed that 57% of institutional investors plan to enhance their crypto asset allocations in the near future.

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