04:15
Norwegian sovereign wealth fund loses over $200 million on MSTR investment.
According to Golden Finance, the Central Bank of Norway (Norges Bank) has incurred hundreds of millions of dollars in losses on its investment in Strategy, formerly known as MicroStrategy. Unlike the Fed and other central banks, Norges Bank directly invests in stocks, including common stocks of Strategy (stock code: MSTR) and other stock index components. Sometimes, such investments can result in losses. In fact, this sovereign wealth fund has experienced losses this year in its investments in several listed companies in Canaan, MARA, and the Crypto Assets sector.
Norwegian banks began to buy MSTR stock in small amounts since 2008 - at that time, Strategy had not yet transformed into a Bitcoin (BTC) reserve company - but increased their holdings during 2024.
As of June 30, 2024, Norway has
BTC-7.17%

