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Oil Fund, Which Is The World's Biggest Sovereign Wealth Fund Owns Almost 600 Bitcoin

There are more mainstream finance giants who have more Bitcoin than we imagine.

The Norwegian Government Pension Fund, which is also known as the Oil Fund, has more than $1 trillion in assets, including 1.4% of all global stocks and shares. It is rated the world's biggest sovereign wealth fund. The fund has almost 600 Bitcoin (BTC) through its investment holdings according to Arcane Research’s statement on Sept. 19.

The Norwegian oil fund has 577.6 BTC through its investment in market intelligence firm MicroStrategy reveals Arcane Research analysis data. This sets the firm’s portfolio in BTC at about $6.3 million. The Norwegian Government Pension Fund also has a 1.51% stake in MicroStrategy.

MicroStrategy founder, Michael Saylor, told in a recent tweet that the business has 38,250 BTC.   

Also, two other important investment consulting businesses, BlackRock Fund Advisors and the Vanguard Group, have a 15.24% stake (5829.30 BTC) and a share of 11.72% (4482.90 BTC), individually. It was reported earlier that BlackRock, as the largest shareholder in MicroStrategy, indirectly owns BTC.

The Vanguard Group is an American investment advisor with approximately $6.2 trillion in global assets under management (AUM) as of January 31, 2020. It is the biggest joint-funds provider and the second-biggest provider of exchange-traded funds (ETFs) in the business after BlackRock’s iShares. On the other hand, BlackRock Fund Advisors has $7.3 trillion in AUM. 

MicroStrategy has gained many titles in the past couple of days as it published a bold idea to invest in Bitcoin. As the newest mainstream giant to join the space, MicroStrategy purchased 21,454 BTC for $250 million in August and later 16,796 BTC for $175 million in September.

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