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As Bitcoin (BTC) steadily marches toward setting another all-time high (ATH), the cryptocurrency’s adoption is rising in parallel. In a recent X post, Vetle Lunde, senior analyst at K33 Research, highlighted that Norway’s Sovereign Wealth Fund has increased its indirect exposure to BTC.
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Lunde noted that Norway’s sovereign wealth fund – Norges Bank Investment Management (NBIM) – has significantly raised its indirect BTC exposure in 2025. He remarked:
This is my favorite chart to update whenever the world’s largest sovereign wealth fund discloses holdings. It efficiently shows that BTC is finding its way into any well-diversified portfolio, intentional or not.
Notably, the NBIM fund
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