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Oil Fund, which is officially known as the Government Pension Fund Global, now indirectly holds more than $6 million worth of Bitcoin for being one of the shareholders of MicroStrategy. This follows the recent Bitcoins acquired by the business intelligence company as their primary reserve asset.
Oil Fund possesses nearly 600 Bitcoin
According to the report by Arcane Research, a cryptocurrency analysis and research platform, the Oil Fund has about 1.51 percent ownership stake in MicroStrategy. This position nets the Government Pension Fund, a total of 577.6 BTC, following the recent Bitcoin acquisition made by MicroStrategy.
In accordance to the price of Bitcoin at $10,965, the Norwegian Oil Fund indirectly possesses $6.3 million via its ownership stake in MicroStrategy. Aside from its investment in the business intelligence company, the Norwegian Government Pension Fund reportedly holds more than $1 trillion in assets. It also possesses 1.4 percent f of all stocks and shares globally. For this reason, it was named the largest sovereign wealth fund in the world.
MicroStrategy Crypto reserve
Earlier in August, Cryptopolitan reported that MicroStrategy had opened a crypto reserve underpinned by Bitcoin, the largest cryptocurrency by market capitalization. At the time, the company initially purchased 21,454 BTC, which was worth more than $200 million. Later on September 15, the company raised the crypto reserve with an additional 16,796 BTC purchased at an aggregate price of $175 million.
Overall, MicroStrategy has 38,250 BTC in its crypto reserve. Besides the Norwegian Oil Fund, other entities like BlackRock and Vanguard Group were also exposed to Bitcoin via their ownership stake in MicroStrategy.
The American global investment management corporation, BlackRock, indirectly holds 5829.3 BTC due to its 15.24 percent ownership in the company. The other investment company, Vanguard Group, nets 4482.9 BTC via its 11.72 percent ownership of the business intelligence company.
Tags: Bitcoin Industrycryptomarket
