The Largest Sovereign Wealth Fund of the World Seems to Own Bitcoins (BTC) as well

The Largest Sovereign Wealth Fund of the World Seems to Own Bitcoins (BTC) as well

At present, the world’s largest sovereign wealth fund is considered to be the Norwegian Government Pension Fund (NGPF). The NGPF is also known as the Oil Fund. It currently holds over one trillion dollars in assets and prides itself on around 1.4% holdings of the global shares and stocks.

Just recently, a surprising revelation was made by the Arcane Research’s report in the month of September 2020. The data shared by the Arcane Research showed that the NGPF owns 577.6 Bitcoins (BTC).

It was also revealed that the Norwegian Oil Fund has acquired Bitcoin (BTC) by making investments through MicroStrategy, which is their business intelligence firm.

This investment in the Bitcoin (BTC) has inducted the Norwegian Government Pension Fund as a cryptocurrency investing company. With this investment, the company is now in possession of $6.3 million worth of Bitcoins (BTC).

It has also been revealed that the Norwegian Government Pension Fund also owns 1.51% shares of the business intelligence firm MicroStrategy. The founder of MicroStrategy, Michael Saylor revealed that their company currently owns 38,250 BTC.

In addition to the Norwegian Government Pension Fund company, two more companies own shares of MicroStrategy. Both companies belong to the major investment advisory sector. The first company is the BlackRock Fund Advisors and the second is the Vanguard Group.

Out of all three companies, the company, BlackRock Fund Advisors currently owns 15.24% shares in the MicroStrategy Company with 5829.30 Bitcoin (BTC). The second company is The Vanguard Group, Inc. that owns 11.72% shares in MicroStrategy with 4482.90 Bitcoin (BTC). Lastly, it is the Norwegian Government Pension Fund company that owns 1.51 shares with just 577.58 Bitcoin (BTC).

With respect to assets under management (AUM), all three companies currently hold Trillions in AUM. The company with the highest assets under management (AUM) is the BlackRock Fund Advisors firm with $7.3 Trillion AUM.

The second company on the list is the Vanguard Group, Inc. with a $6.2 Trillion AUM. In the last, it is the Norwegian Government Pension Fund company with just $1 Trillion in AUM.

Leave a Reply

Your email address will not be published. Required fields are marked *