Bitcoin Nears $100K as Sovereign Wealth Fund Faces Major Losses
Bitcoin has seen a strong rally over the past five days, surging nearly 14% and reaching a high of $95,600. While the momentum has paused for now, the bullish trend suggests that BTC could soon retest the highly anticipated $100,000 level. Meanwhile, Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund managing around $1.8 trillion, reported a massive $40 billion loss for the first quarter of 2025. Ironically, this fund had previously dismissed Bitcoin as "too risky" and opted instead for traditional tech stocks. Sovereign Fund’s Risk Strategy Backfires NBIM’s decision to avoid Bitcoin and favor “safe” U.S. tech stocks has come under scrutiny. Eli Nagar, CEO of Braiins Mining, highlighted the irony in the fund’s Q1 performance, noting that despite fears over Bitcoin’s volatility, their chosen investments failed to protect them. According to CNBC , over 55% of NBIM’s investments are in U.S. markets, with major holdings in companies like Nvidi...