Norwegian Wealth Fund CEO: I don't think cryptocurrencies will be part of our portfolio anytime soon.
Nicolai Tangen, head of Norway's $1.80 trillion sovereign wealth fund, said investors willing to buck the market in the coming months should consider selling US tech stocks and private credit while increasing their holdings in China. "The best thing to do is always to do the opposite of everyone else, and what should be done now? Well, if you want to do the opposite, it's to sell US tech stocks, buy China, sell private credit, buy obsolete stuff," Nicolai Tangen said in an interview on the sidel...
According to the fund's website, the value of Norway's sovereign wealth fund exceeded 20 trillion Norwegian kroner.
According to market news, the watchdog of Norway's wealth fund will conduct a review of footwear producers, cryptocurrencies, and gaming companies in 2025, which could lead to divestments.
Statoil said oil production at Norway's largest oil field, Sverdrup, has been temporarily suspended.
On Monday, Statoil said it had halted production at Johan Sverdrup, the largest oil field in Western Europe, due to an onshore power outage, but there was no clear timetable for a restart. Oil prices rose on the news, following a surge in oil prices affected by the escalation in Russia and Ukraine. UBS analyst Giovanni Staunovo said oil prices were boosted by the news as supply disruptions could tighten the North Sea crude market. Physical supply of North Sea crude supports Brent crude futures.
Norway's central bank, Norges Bank, has endorsed the European Union's Crypto Asset Market Supervisory Authority (MiCA) as the country evaluates the possibility of adopting a central bank digital currency (CBDC). Kjetil Watne, project director for Norges Bank's CBDC project, said Norway, as a member of the European Economic Area (EEA), welcomed the MiCA framework. However, he noted that the bank was still considering "whether additional regulation is needed to promote financial stability". Norges...
According to Cryptonews, Norway's central bank is moving forward with research on central bank digital currencies (CBDCs), with plans to make a relevant decision by the end of 2025. Although the European Central Bank is already preparing for digital currencies, Norway says it is in no hurry to speed up the process. According to Norway's deputy governor, Pal Lonva, Norway's research on CBDCs is in line with other central banks, and the current focus is on assessing complex issues. Norway is known...
21:00-7:00 Keywords: Kenya, Russia, Norway 1. President of Kenya announces measures to curb AI misinformation; 2. Russia will regulate cross-border crypto payments by the end of November. 3. Electricity bills per household skyrocketed by $300 after a ban on bitcoin mining in a Norwegian town. 4. Huili Bank CEO: No one in the world uses the name virtual bank. 5. Hyblock Capital: The bitcoin market has dried up deeply, which may indicate a bullish bitcoin price. 6. Founder of Cyber Capital: The cr...
12:00-21:00 Keywords: July CPI, Norway, BlackRock, Sahara AI Jump Trading withdraws 17,049 ETH from Lido and sells it. The U.S. CPI rose 2.9% year-on-year in July, falling for the fourth consecutive month. K33: Norway's sovereign wealth fund holds 2,446 BTC indirectly. 4. BlackRock spot Ethereum ETH ETHA holdings exceeded 300,000 ETH; 5.Circle CEO: expressed doubts about Trump's use of bitcoin as a reserve currency; 6. Blockchain platform Sahara AI completed a $43 million financing, led by Binan...