Norwegian Oil Fund now owns 600 Bitcoins

The Norwegian Government Pension Fund, also known as the Oil Fund, owns almost 600 Bitcoins thanks to its investment holdings. Established in 1990 to invest the surplus revenues of the Norwegian petroleum sector, it has over $1 trillion in assets, including 1.4% of global stocks and shares, making it the world’s largest sovereign wealth fund.

According to an analysis of data by Arcane Research, the Norwegian Fund owns 577.6 bitcoins worth 57.5 MNOK / 6.3M USD. However, there are other names on the table as well such as BlackRock Fund Advisors with a 15.24% stake (5829.30 BTCs) and also The Vanguard Group, Inc. with a share of 11.72% (4482.90 BTCs).

BlackRock Fund Advisors has disclosed 4,238 total holdings in their latest SEC filings. Most recent portfolio value is calculated to be $ 542,337,368,000 USD.

The Vanguard Group is an American investment advisor with about $6.2 trillion in global assets under management, as of January 31, 2020. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock’s iShares.

Photo by WORKSITE Ltd. on Unsplash

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Cult Today

Cult Today

CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

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