Norway's $1.7 trillion sovereign wealth fund significantly increased its indirect exposure to Bitcoin, growing its holdings in crypto exchanges by 62% in the first half of 2024.
Vetle Lunde noted the fund's increased crypto exposure reflects algorithm-based sector weighting and risk management, indicating a shift in investment strategies.
Norway's investment fund, now owning 2,446 BTC valued at around $142.9 million, showcases Bitcoin's maturation as an asset and its role in diversified portfolios.
The fund reported an 8.6% growth in the first half of 2024, driven by a 12% rise in equity investments, though it slightly underperformed its benchmark.
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