Norway's sovereign wealth fund Norges Bank suffered a huge loss of about $40 billion in the first quarter of 2025, mainly due to poor performance of the US tech sector. As of the end of 2024, the fund indirectly held about 3,821 bitcoins with a market value of about $356 million through holdings in companies such as MicroStrategy, Coinbase, Marathon Digital, and Riot Platforms. Although there are currently no signs that the fund will directly invest in bitcoin or related ETFs, market analysis suggests that sovereign funds may consider bitcoin as a hedge tool given the risks of global trade wars and economic downturns. For example, Abu Dhabi's Mubadala Investment Company already holds $437 million worth of spot bitcoin ETF shares, but the Norway fund currently focuses on index-driven strategies and has not shown any signs of increasing its allocation to crypto assets.
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Norges Bank, the Norwegian sovereign wealth fund that indirectly holds 3,821 BTC, suffered a huge loss of $40 billion in the first quarter.
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