The Norwegian Government Pension Fund, also known as the Oil Fund, has assets of more than $1 trillion and owns nearly 600 bitcoins through investment properties.
According to an analysis published by Arcane Research, the Norwegian fund owns 577 bitcoins through investments in MicroStrategy, a business management company, Coin Telegraph reported.
The corporation said that the company’s Bitcoin holdings amount to $6.3 million. The Norwegian State Pension Fund also owns a 1.5% stake in MicroStrategy.
In previous comments on Twitter, MicroStrategy founder Michael Saylor said that the company owns just over 38 bitcoins.
Meanwhile, two major investment advisory firms, BlackRock Fund Advisors and Vanguard Group, respectively hold 15.2% (5,829 bitcoin) and 11.72% (4,483 bitcoin) shares.
In a previous report, Coin Telegraph said that BlackRock, the largest shareholder in MicroStrategy, indirectly owns Bitcoin.
The Vanguard Group is a US investment advisor with financial assets of $6.2 trillion, according to January 2020 figures.
Bold investments in Bitcoin
Moreover, MicroStrategy has been the subject of widespread global media attention over the past few days. The company announced a bold plan to invest in Bitcoin.
As the latest giant to enter the cryptocurrency race, the company bought 21,454 bitcoins worth $250 million in August. It then bought another 16,796 bitcoins worth $175 million in September.
The Norwegian Government Pension Fund issued the classification of the SWF Institute, which specialises in studying government investments and sovereign funds, in September 2020.
Consequently, the fund ranked first as the largest sovereign wealth fund in the world. It has assets amounting to $1,108.7 billion, down $78 billion.
The China Investment Company came in second place with assets of $940.6 billion. This was followed by the Abu Dhabi Investment Authority with assets amounting to $579.6 billion. The Kuwait Investment Authority came in fourth place with assets of $533.7 billion.