South Korea’s National Pension Service, the world’s third-largest public pension fund, purchased $34 million worth of MicroStrategy shares.
The third-largest public pension fund in the world has recently acquired roughly $34 million in shares of MicroStrategy, a business intelligence firm that purchases Bitcoin.
According to a filing with the United States Securities and Exchange Commission on August 13, the National Pension Service (NPS) of South Korea acquired 24,500 MicroStrategy shares at a price of $33.75 million.
The National Pension Service is the largest investor in South Korea and the public pension, with a total asset value of over $777 billion (1 trillion won) as of the end of February.
The filing, which provides a comprehensive overview of its investments for the quarter ending June 30, indicates that it continues to possess a stake in Coinbase exceeding $51 million, with 229,807 shares of the cryptocurrency exchange.
Additionally, it has invested $31.5 million in Roblox and $61.5 million in Block, Inc., which is owned by Jack Dorsey.
The Government Pension Investment Fund of Japan is the largest pension fund in the world, with approximately $1.5 trillion in total assets as of 2023, according to the Thinking Ahead Institute’s annual Global Pension Assets Study. The Government Pension Fund of Norway follows, with a value of just over $1.3 trillion.
In the interim, MicroStrategy (MSTR) has achieved a 92.5% increase this year and has surpassed $150 for the first time in more than 24 years, as reported by Google Finance.
The company has been purchasing Bitcoin since August 2020, and its earnings report from earlier this month indicates that it acquired an additional 12,222 Bitcoin for $805 million in the second quarter of 2024.
MicroStrategy’s most recent acquisition of Bitcoin increased its total holdings to 226,500 BTC, which is approximately $13.19 billion at the current price of Bitcoin.
According to CoinGecko, this makes MicroStrategy the public corporation with the largest Bitcoin holdings, with approximately 13 times as much Bitcoin as the world’s largest Bitcoin miner, Marathon Digital.
Defiance ETFs, an exchange-traded fund (ETF) issuer based in the United States, has launched a fund that aims to provide a 175% long-term exposure to MicroStrategy. Additionally, there are those who believe that MicroStrategy is a viable investment.
