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Norway’s Norges Financial institution, the world’s largest sovereign wealth fund with $1.7 trillion in belongings, has boosted its Bitcoin holdings by nearly 84% within the second quarter, primarily by shopping for shares in Michael Saylor’s Technique and Japan-based Metaplanet.
That’s in keeping with Commonplace Chartered, which says Norges Financial institution raised its complete oblique holdings to 11,400 BTC from 6,200 BTC through the interval.
Commonplace Chartered’s head of digital asset analysis Geoffrey Kendrick described the surge as a “proactive place,” reflecting a broader development of sovereign wealth funds and authorities entities boosting oblique Bitcoin publicity by way of treasury-focused companies.
Kendrick reached his conclusions by analyzing 13F filings with the US Securities and Alternate Fee (SEC) by corporations with holdings in BTC ETFs (exchange-traded funds), Technique, and Metaplanet.
Kendrick not too long ago raised his year-end BTC goal to $200K, aligning with Canary Capital CEO Steven McClurg, which predicts BTC may hit $140K–$150K this yr even amid anticipated Federal Reserve charge cuts.
Norges Financial institution Ups Bitcoin Publicity To 11,4K BTC
Norges Financial institution has constructed its BTC publicity by primarily holding shares in Technique. With the most recent evaluation, nevertheless, Kendrick famous that the fund has diverted from this development considerably and has additionally purchased shares in Metaplanet, which is commonly seen as “Japan’s Technique.”
Whereas Norges Financial institution could look like diversifying its holdings in Bitcoin treasury corporations, Kendrick mentioned the fund nonetheless has a heavy focus in direction of Technique. At the moment, the fund’s holdings in Metaplanet account for an equal of 200 BTC.
Norges Financial institution Funding Administration, which oversees Norway’s sovereign wealth fund, doubles down on bitcoin by $MSTR and $MTPLF. https://t.co/wiQna2YnHD pic.twitter.com/17kc5zfQX0
— Dylan LeClair (@DylanLeClair_) August 15, 2025
Technique and Metaplanet have been among the many most energetic Bitcoin treasury companies in current months.
Technique (MSTR) is at the moment the most important company Bitcoin holder with 628,946 BTC on its stability sheets, in keeping with knowledge from BitcoinTreasuries. In the meantime, Metaplanet is ranked at quantity 7 with its holdings of 18,113 BTC.
Kendrick Adjusts 12 months-Finish Goal To $200K By The Finish Of The 12 months
The evaluation by Kendrick follows an remark made earlier within the yr, when he mentioned that sovereign wealth funds and authorities entities had been boosting their oblique publicity to Bitcoin within the first quarter by primarily shopping for shares in Technique. He additionally predicted that this development will proceed all year long.
Simply final month, the Commonplace Chartered analyst raised his Bitcoin value goal to $135K by Sept. 30. He additionally reiterated a $200K value goal for the top of the yr.
These targets are according to ones shared by Canary Capital CEO Steven McClurg.
Talking to CNBC on Aug. 15, he mentioned that there’s nonetheless the likelihood that BTC will soar to the $140K-$150K vary “this yr earlier than the bear market subsequent yr.”
McClurg added that he’s not assured within the present macroeconomic outlook, and warned of a broader bear market forward.
He argued that there ought to have already been an rate of interest minimize within the US, including that he expects cuts to be introduced in September and October.
Polymarket bettors additionally consider that rate of interest cuts will probably be introduced someday quickly. A contract on the decentralized betting platform asking when the earliest Federal Reserve rate of interest minimize will probably be reveals elevated odds for September and October.
Fed charge minimize odds by month (Supply: Polymarket)
As of two:03 a.m. EST, odds that the subsequent minimize will probably be in September stand at 73% after a 4% rise within the final 24 hours, whereas odds of an October minimize stand at 89% after a 2% enhance.
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