South Korea’s Pension Fund Invests $33.7 Million in MicroStrategy Shares
On Thursday, South Korea’s National Pension Scheme disclosed it acquired 245,000 shares of MicroStrategy (MSTR) in the second quarter, as per its 13F filing with the SEC.
The stock has jumped 92% since early 2024, with the bulk of gains occurring in Q1.
The pension fund’s new investment amounts to 46 billion won, or $33.7 million, representing a small portion (0.04%) of its U.S. equity portfolio. This move aligns with the NPS’s previous strategy of investing in crypto-related stocks, such as its 2023 purchase of 282,673 shares in Coinbase (COIN), which has since tripled in value.
READ MORE: Wisconsin State Investment Board Boosts BlackRock Bitcoin ETF Holdings
MicroStrategy remains a leading corporate Bitcoin holder, and recently, the SEC approved a leveraged ETF, MSTX, which mirrors 175% of MicroStrategy’s daily stock movements. This ETF allows investors to indirectly gain from Bitcoin’s price fluctuations.
The launch of Bitcoin ETFs has attracted interest from various U.S. states. The Wisconsin Investment Board has been buying Bitcoin ETFs for two quarters, while the Michigan Retirement System invested $6.6 million in the ARK 21Shares Bitcoin ETF (ARKB) last month. Jersey City’s Mayor Steven Fulop also plans to invest in Bitcoin through ETFs.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
