Standard Chartered: Norges Bank Investment Management (NBIM) Increased Bitcoin-Related Holdings by 83% in Q2

According to a report by The Block cited by Jinse Finance, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, stated that Norway’s central bank investment management company (NBIM) increased its Bitcoin-related holdings from the equivalent of 6,200 BTC to 11,400 BTC in the second quarter, an 83% rise. The fund primarily gained Bitcoin exposure by increasing its holdings of MicroStrategy (MSTR) shares, while also slightly increasing its position in Metaplanet. Currently, MicroStrategy holds 628,900 BTC, and Metaplanet holds 18,100 BTC. Kendrick maintains a year-end Bitcoin price target of $200,000 and predicts it could reach $500,000 by 2028.