Norway's sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has increased its indirect exposure to Bitcoin by 192% in 2025, reaching a total of 7,161 BTC. This marks a rise from 3,821 BTC at the end of 2024 and 2,446 BTC a year prior. The fund's Bitcoin holdings are valued at approximately $850 million to $862.8 million as of mid-2025. These BTC holdings are held indirectly through equity stakes in publicly traded companies with Bitcoin on their balance sheets, including MicroStrategy, Strategy, Metaplanet, and Coinbase. The fund's exposure has grown by 87.7% over the past six months, reflecting a growing institutional interest in cryptocurrency assets. The total assets under management by the fund are reported between $1.5 trillion and $1.9 trillion, with the Bitcoin-related investments surpassing $1 billion in value. This increase in Bitcoin exposure highlights the fund's strategic move to diversify and increase its allocation to digital assets through indirect investments.