Norwegian sovereign wealth fund loses over $200 million on MSTR investment.

According to Golden Finance, the Central Bank of Norway (Norges Bank) has incurred hundreds of millions of dollars in losses from its investment in Strategy, formerly known as MicroStrategy. Unlike the Fed and other central banks, Norges Bank directly invests in stocks, including common stocks of Strategy (stock code: MSTR) and other index component stocks. Sometimes, these types of investments can result in losses. In fact, this sovereign wealth fund has experienced losses in its investments this year in Canaan, MARA, and several publicly listed companies in the crypto assets sector. Norwegian banks began to buy a small amount of MSTR stock since 2008 — at that time, Strategy had not yet transformed into a Bitcoin (BTC) reserve company — but increased their holdings during the year 2024. As of June 30, 2024, Norway's investment in MSTR has reached 217 million USD, holding 0.89% of the company's equity. By December 31, 2024, its investment further increased to 514 million USD. In the first half of 2025, the Norwegian Bank doubled its investment in MSTR again, increasing from 5.8 billion Norwegian Krone to 11.9 billion Norwegian Krone — and the purchase prices for these increases were all significantly higher than the current stock price. As of June 30, 2025, the market value of the MSTR shares held by the Norwegian Bank was 1.18 billion USD, and it is almost certain that they continued to increase their holdings thereafter.