South Korea’s National Pension Service (NPS) recently purchased $34 million worth of MicroStrategy shares, demonstrating the institution’s increased trust in Bitcoin (BTC) through strategic investments.
MicroStrategy’s focused investment in Bitcoin continues to bolster confidence in the company’s long-term prospects and the value of its cryptocurrency holdings.
Korea National Pension Service buys MicroStrategy stock
This fact was confirmed in an official filing with the U.S. Securities and Exchange Commission (SEC). It is particularly noteworthy that South Korea’s NPS, the world’s second largest public pension fund, is supporting Bitcoin through its MicroStrategy investment. This movement shows that large institutions have indirect exposure to Bitcoin through MicroStrategy and their trust in Bitcoin is increasing.
Thanks to its active Bitcoin investment strategy, MicroStrategy’s stock (MSTR) actually acts as a proxy for Bitcoin. This unintentional perception is attracting investors who want leveraged investing without directly holding Bitcoin.
Increasing Institutional Adoption of Bitcoin
While South Korea’s National Pension Service has indirect exposure to Bitcoin through agents, other pension funds are taking advantage of the recently approved Bitcoin spot ETF. One notable example is a New England retirement plan’s $249,429 investment in Grayscale Bitcoin Trust, Inc. (GBTC), purchasing 4,685 shares, as disclosed in a recent Form 13F filed with the SEC. In addition, the state of Wisconsin purchased $99 million worth of the BlackRock Bitcoin ETF, iShares Bitcoin Trust (IBIT), and the Michigan Retirement System invested $66 million in the ARK 21Shares ARKB Spot Bitcoin ETF. Jersey Mayor Stephen Fulop announced similar investment plans.
In addition to retirement funds, Wall Street giants such as Morgan Stanley, Goldman Sachs, and DRW Capital also revealed their holdings in Bitcoin ETFs. These developments signify growing institutional trust in Bitcoin and its increasing integration into mainstream finance.
MicroStrategy’s Leadership in Bitcoin Investment
Virginia-based MicroStrategy is known as a leading Bitcoin maximalist, with its CEO Michael Saylor being a prominent Bitcoin advocate and investor. MicroStrategy’s Bitcoin investment strategy continues to solidify its position in the cryptocurrency space, with each development attracting attention. Despite market difficulties, the company continues to expand its Bitcoin holdings and maintains its position as the public company with the largest Bitcoin holdings.
For example, in the second quarter of 2024, despite posting a quarterly loss, MicroStrategy purchased 12,222 Bitcoins, bringing its total holdings to 226,500 Bitcoins. Earlier this month, the company announced plans to sell up to $2 billion in stock for additional Bitcoin investments and other corporate purposes.
Despite challenges, MicroStrategy remains committed to its Bitcoin stance and strategic investing insights, showcasing resilience in the face of market volatility.
