Saltık 
South Korea’s public pension fund has purchased $34 million worth of shares in Bitcoin buying firm MicroStrategy, increasing its exposure to crypto.
South Korea’s National Pension Service (NPS), the world’s third-largest public pension fund, announced in a filing with the U.S. Securities and Exchange Commission (SEC) on August 13 that it has purchased 24,500 shares of MicroStrategy for $33.75 million.
The National Pension Service is South Korea’s public pension fund and is the country’s largest investor, with assets totaling 1 trillion won ($777 billion) as of the end of February. The fund’s filing, which details its investments for the quarter ending June 30, shows that the fund still owns more than $51 million worth of Coinbase stock, or 229,807 shares of the crypto exchange.
Japan’s government pension fund is the world’s largest pension fund, with total assets close to $1.5 trillion by 2023, according to the Thinking Ahead Institute’s annual Global Retirement Assets Study. Norway’s government pension fund is second with assets slightly over $1.3 trillion. Meanwhile, MicroStrategy (MSTR) has gained 92.5% so far this year and is above $150 for the first time in 24 years, according to Google Finance.
Might interest you: Bitcoin Sell Pressure Could Test $56K Support as Options Expiry Nears
The company has been buying Bitcoin since August 2020, and according to its earnings report published earlier this month, it purchased an additional 12,222 Bitcoins for $805 million in the second quarter of 2024.
MicroStrategy’s latest Bitcoin purchase brings its total Bitcoin holdings to 226,500 BTC, worth around $13.19 billion at Bitcoin’s current price.
This makes MicroStrategy the publicly traded company with the largest Bitcoin holdings, with 13 times more Bitcoin than Marathon Digital, the world’s largest Bitcoin miner.
Other investors also see MicroStrategy as a good bet, with exchange-traded fund (ETF) issuer Defiance ETFs launching a U.S.-based fund targeting MicroStrategy with 175% long daily exposure.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.