Bitcoin adoption and acceptance are increasing across the globe, especially in European nations. Now an interesting report suggests that every Norwegian hold 0.00011
Norwegians indirectly have a share of Bitcoin through the state fund.
Norwegians Get Bitcoin through State-Run Oil Fund: Oljefondet
The Norway government runs the Oil profit fund called Oljefondet to invest the revenue surplus in the Norwegian petroleum industry. The state-run oil fund has brought a small amount of Bitcoin share for every citizen in an indirect fashion.
The Oljefondet fund has around 1.51 percent share in MicroStrategy and also has approximately .83 stake in Square. Since these two organizations have heavily invested in Bitcoin in recent times, Oljefondet owns Bitcoin proportional funds due to its ownership of stakes in MicroStrategy and Square. The fund owns around 616.4 Bitcoins through its share in MicroStrategy, which holds 40,824 Bitcoin. Since the fund is invested on behalf of Norwegians, each of 5 million Norwegian citizens indirectly become the owner of the Bitcoin share through 0.00011485 MicroStrategy Bitcoin Reserve rounding up to $2.
A similar calculation applied to the Oljefondet .83 percent share in Square, which has around 50 million worth of Bitcoin, would result that every Norwegian is currently owning an additional 0.000000728 BTC. Totaling the MicroStrategy and Square shares, every citizen owns around .000115578 bitcoin worth $2.20.
Reddit User ThiaSCSGOSkins skimmed through the data and analyzed the matter to provide the details. He cited several sources to establish that every person in Norway indirectly owns 0.000114 BTC through the state-run Oil profit fund. With its ownership in Square and MicroStrategy, the state fund has rights on Bitcoins owned by the two companies. The state fund is meant for the 5,367,580 Norwegian citizens; thus, each one of them owns 0.000114 BTC.
With MicroStrategy constantly increasing its investment in Bitcoin through various sources, it is more likely that the Citizens of Norway would own more Bitcoin in the future indirectly through the state run oil profit fund.
The Coin Telegraph reported that the Norwegian Government Pension Fund has over 1 trillion USD in assets, including around 600 BTC. As Bitcoin gains more popularity among institutional investors and governments eye to tap the power of cryptocurrencies, Bitcoin’s impact would grow on the general public.
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