Norway Now Holds 16981 Sats per Norwegian Citizen As a Result of Govt.’s Stake in Square & MicroStrategy

By Prashant Jha
Published December 14, 2020 Updated December 14, 2020
Best Buy In

DeFi Platform

Exchanges

Wallet

bitcoin trading
bitcoin trading

Norway Now Holds 16981 Sats per Norwegian Citizen As a Result of Govt.’s Stake in Square & MicroStrategy

By Prashant Jha
Published December 14, 2020 Updated December 14, 2020

The Norwegian Oil Fund, a government pension fund created back in the 1990s to invest the surplus generated from the petroleum sector for the citizens. The pension fund as of today is worth over $1 trillion in assets bought 2.14% ownership stakes in MicroStrategy and 0.8% stake in Square. The part ownership in the software company and the bitcoin payment app has made the Norwegian government indirect owners of almost 912 bitcoins.

Source: Arcane Research

The investment made by the Norwegian pension fund in bitcoin holding companies makes every Norwegian citizen owner of 16981 sats which might increase further if the government intends to invest more into these companies. The investment made by the Norwegian largest pension fund has already started to climb and has risen from nearly 600 BTC to 900 BTC.

Bitcoin: The Best Bet Against Financial Crisis at Present

The ongoing pandemic has not just changed the way the world used to function but also seems to have a daunting impact on the financial preferences of institutional players and asset managing financial giants. MicroStrategy is currently the biggest bet maker for bitcoin as it has already invested over $1 billion in bitcoin and holds over 40,000 bitcoin on its sheet.

Most of the financial pundits believe that big investors have realized the potential of bitcoin and prefer it over gold, one of the key reasons behind the long stable bull market which is currently eyeing to break the $20,000 barrier.  In fact, MicroStrategy, Grayscale, and Square are currently buying more bitcoins than it is being mined. This institutional FOMO makes bitcoin highly underpriced at present and a takeoff from the current price can see it flip the market of gold in the coming few years.

Norwegian citizen’s ownership in bitcoin would continue to rise if MicroStrategy and Squure Inc buy more bitcoins which at present looks highly likely, at the same time the value of their holdings would grow as the price of bitcoin continue to climb.

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1093 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Loading Next Story