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Norway’s $1.7 Trillion Sovereign Wealth Fund Increases Bitcoin Exposure by 83% in Q2
According to an analysis of recent regulatory filings, Norges Bank Investment Management (NBIM), which manages the $1.7 trillion Norwegian Government Pension Fund Global—the world’s largest sovereign wealth fund—has significantly increased its exposure to Bitcoin-linked assets. Geoffrey Kendrick, global head of digital assets research at Standard Chartered, stated that his review of the latest 13F filings with the US SEC revealed that NBIM increased its positions in both Strategy (formerly MicroStrategy, ticker MSTR) and Metaplanet, often referred to as “Japan’s MicroStrategy.”
The fund’s Bitcoin equivalents rose from 6,200 BTC at the end of Q1 to 11,400 BTC as of June 30, representing an 83% increase in just three months. Kendrick emphasized that the majority of the exposure is through Strategy, which itself holds over 628,000 BTC on its balance sheet, while a smaller portion of about 200 BTC is invested via Metaplanet. Despite the increase, NBIM’s position remains relatively modest compared to its total assets under management, but the move highlights growing institutional confidence in Bitcoin as a hedge for financial reserves and portfolios.
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| Period | BTC Exposure | Change |
|---|---|---|
| Q1 2025 | 6,200 BTC | - |
| Q2 2025 | 11,400 BTC | +83% |
- Most exposure via Strategy (over 628,000 BTC on its balance sheet)
- About 200 BTC exposure via Metaplanet
Summary: NBIM’s 83% increase in Bitcoin exposure in Q2 2025 underscores a notable shift among conservative institutional investors towards digital assets, with the majority of holdings linked to Strategy and a smaller portion to Metaplanet. (Source: CryptoDnes.bg)
Altcoin Liquidations Surpass Bitcoin, Marking a Shift in Market Speculation
Altcoins have officially overtaken Bitcoin in cumulative liquidations on Binance, signaling a dramatic shift in speculative interest within the crypto markets. According to market strategist Joao Wedson, data from 2025 shows that traders are taking on more risk with altcoins than with Bitcoin—a reversal of the trend seen in 2024.
In 2024, Bitcoin dominated liquidations, with positions far exceeding those of all altcoins combined. However, since January 2025, cumulative altcoin liquidations have surged, steadily eroding Bitcoin’s lead. In July, the ratio flipped, with altcoins experiencing a spike in both long and short liquidations, pushing the cumulative liquidation delta of BTC versus altcoins on Binance to new lows. Wedson highlighted July as a turning point, marking the first time altcoins surpassed Bitcoin in liquidations.
- Traders are now speculating more aggressively on altcoins, seeking higher volatility and potential gains.
- Binance’s deep liquidity and large user base make it a key platform for tracking this sentiment shift.
Historically, increased liquidation activity in altcoins has coincided with the early phases of altcoin seasons—periods when capital flows from Bitcoin to altcoins, often resulting in explosive price increases for lower-cap tokens. The current rise in altcoin liquidations may signal the market’s entry into another speculative rotation phase. While Bitcoin’s dominance remains above 59%, it has begun to stagnate, and analysts expect altcoin volatility to drive the next quarter.
Summary: Altcoin liquidations overtaking Bitcoin on Binance in July 2025 marks a significant shift in trader risk appetite and could indicate the onset of a new altcoin season. (Source: CryptoDnes.bg)
Market Update: Bitcoin, Ethereum, and Other Major Cryptocurrencies on Sunday
On Sunday at 12:25, Bitcoin increased by 0.67% to $118,300.00, up from $117,507.15 the previous day. The finanzen.net Top 10 Crypto-ETP1 is trading lower today, with a price of 16.00 EUR and a performance of 73.5% since inception.
Litecoin rose by 0.93% to $122.02, compared to $120.90 the previous day. Ethereum also saw gains, rising from $4,426.55 to $4,543.13, a 2.63% increase. Bitcoin Cash increased by 0.56% to $591.41, up from $588.14. Ripple climbed by 0.77% to $3.131, compared to $3.107 the previous day. Dash rose by 1.15% to $23.49, up from $23.23. Monero saw a significant increase of 4.89%, reaching $264.87 from $252.52. NEO gained 1.30% to $6.424, up from $6.341.
IOTA showed little movement, with a slight increase from $0.2084 to $0.2138. Cardano jumped by 5.74% to $0.9739, up from $0.9210. Stellar and NEM remained relatively stable, with Stellar at $0.4312 (previously $0.4269) and NEM at $0.0026. Verge also showed minimal change, at $0.0068 compared to $0.0067 the previous day.
| Cryptocurrency | Current Price | Previous Price | Change (%) |
|---|---|---|---|
| Bitcoin | $118,300.00 | $117,507.15 | +0.67% |
| Ethereum | $4,543.13 | $4,426.55 | +2.63% |
| Litecoin | $122.02 | $120.90 | +0.93% |
| Bitcoin Cash | $591.41 | $588.14 | +0.56% |
| Ripple | $3.131 | $3.107 | +0.77% |
| Dash | $23.49 | $23.23 | +1.15% |
| Monero | $264.87 | $252.52 | +4.89% |
| NEO | $6.424 | $6.341 | +1.30% |
| IOTA | $0.2138 | $0.2084 | +2.59% |
| Cardano | $0.9739 | $0.9210 | +5.74% |
| Stellar | $0.4312 | $0.4269 | +1.01% |
| NEM | $0.0026 | $0.0026 | 0.00% |
| Verge | $0.0068 | $0.0067 | +1.49% |
Summary: Major cryptocurrencies showed mostly positive movement on Sunday, with Bitcoin, Ethereum, and Cardano among the notable gainers. (Source: Finanzen.net)
Mike Novogratz: A $1 Million Bitcoin Price Would Signal Economic Trouble
Galaxy Digital CEO Mike Novogratz cautioned that a fantastic Bitcoin price of $1 million would be accompanied by severe economic turmoil. In an interview with Natalie Brunell on the Coin Stories podcast, Novogratz stated, “People who would be happy about a million-dollar Bitcoin price next year don’t understand that this would only happen if we are in a really bad domestic situation.”
“I would prefer a lower Bitcoin price in a more stable US economy,” Novogratz said, explaining that strong currency devaluations often come at the expense of civil society.
Several Bitcoin experts continue to speculate that Bitcoin could reach $1 million by 2026. Arthur Hayes, founder of BitMEX, predicted in October 2023 that Bitcoin could reach $750,000 to $1 million by then, and recently suggested that Bitcoin could hit $250,000 by the end of this year. Samson Mow, founder of Jan3, also stated in June that Bitcoin could reach $1 million “maybe this year, maybe next year.”
Novogratz also expressed concerns about the growing adoption of Bitcoin by treasury companies, warning that it could lead to a speculative bubble. He revealed that Galaxy Digital receives about five calls per week from new companies wanting to add Bitcoin to their balance sheets, likening the situation to a gold rush.
- Novogratz doubts US Treasury Secretary Scott Bessent’s ability to reduce the debt-to-GDP ratio, warning that the deficit will rise, not fall.
- He cautions that only a few Bitcoin-treasury companies will survive and avoid the “death spiral” that could hit those trading near net asset value (NAV).
Summary: Mike Novogratz warns that a $1 million Bitcoin price would likely signal economic crisis, and expresses concern over a potential bubble in Bitcoin-treasury adoption. (Source: Cointelegraph: Bitcoin & Krypto-Nachrichten)
Sources:
- Analyst: Bitcoin-Höchststände folgen Halving-Mustern—Der nächste wird bis Ende 2025 erwartet
- Norwegens $1.7 Trillion schwerer Staatsfonds erhöht Bitcoin-Engagement im Q2 um 83%
- Bitcoin-Kurs von 1 Mio. US-Dollar wäre nicht gut – Mike Novogratz
- Altcoin-Liquidationen überholen Bitcoin und markieren einen Wandel in den Marktspekulationen
- Bitcoin, Ether & Co: So schlagen sich die Kryptowährungen am Sonntagmittag
- Bitcoin-Preisüberwachung: Konsolidierungsphase könnte scharfer Rallye oder Einbruch vorausgehen
