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 Analysis, highlighted that Norway’s Sovereign Wealth Fund has elevated its oblique publicity to BTC.
Norwegian Sovereign Wealth Fund Elevated Bitcoin Stack
Lunde famous that Norway’s sovereign wealth fund – Norges Financial institution Funding Administration (NBIM) – has considerably raised its oblique BTC publicity in 2025. He remarked:
That is my favourite chart to replace each time the world’s largest sovereign wealth fund discloses holdings. It effectively reveals that BTC is discovering its method 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.
On the finish of 2024, the fund’s publicity stood at 3,821 BTC, that 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.
In keeping with Lunde, the surge in BTC publicity was primarily pushed by the fund’s vital positions in core treasury automobiles reminiscent of Technique and Marathon Digital. It was additionally supported by sturdy Bitcoin accumulation amongst different high company treasury holders.
Technique and Marathon Digital are among the many main public firms with the most important BTC reserves. Information from CoinGecko reveals that Technique at the moment holds 628,946 BTC, whereas Marathon Digital holds 50,000 BTC.
Mixed, these two firms personal greater than 3% of Bitcoin’s complete provide, valued at over $81 billion at present market costs. For NBIM, Technique added 3,005.5 BTC to its oblique publicity, whereas Marathon Digital contributed 216.4 BTC.
Different notable contributors to the sovereign wealth fund’s Bitcoin publicity embody Block (85.1 BTC), Coinbase (57.2 BTC), Metaplanet (50.8 BTC), and GameStop (33 BTC). Conversely, Riot Platforms lowered publicity by 76.7 BTC.
2025: The 12 months Of BTC Adoption
Whereas Bitcoin had already discovered its method onto company steadiness sheets earlier than 2025, this 12 months has seen the pattern speed up quickly. A number of firms have introduced new fundraising initiatives aimed toward growing their BTC holdings.
Final week, Turkish mobility app Marti Applied sciences revealed plans to carry 20% of its complete money reserves in BTC. UK-based Satsuma Know-how additionally pledged to increase its Bitcoin place.
Equally, Galaxy Digital 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% up to now 24 hours.
Featured picture from Unsplash.com, charts from K33 Analysis and TradingView.com
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