South Korea’s National Pension Fund Invests $33.7 Million In MicroStrategy Shares
This investment follows the pension fund’s previous acquisition of 282,673 shares in Coinbase, valued at $19.9 million, last year.
South Korea's National Pension Service (NPS), the world's third-largest pension fund by assets, has notably ventured into cryptocurrency by acquiring $33.7 million in MicroStrategy shares during this year's second quarter, according to a report by The Block.
The latest holdings report, submitted to the U.S. Securities and Exchange Commission, reveals that the NPS acquired 24,500 shares of MicroStrategy Inc. during this period. This investment follows the pension fund’s previous acquisition of 282,673 shares in Coinbase, valued at $19.9 million, last year.
As of the end of June, the NPS held 229,807 shares of Coinbase, worth approximately $51 million, a decrease from the 253,763 shares held at the end of March.
MicroStrategy, known for being the largest corporate holder of Bitcoin with approximately 226,500 BTC valued at $13.2 billion, offers indirect exposure to the cryptocurrency market. The company’s stock has surged by 92% this year. In addition, the U.S. Securities and Exchange Commission recently approved the first leveraged exchange-traded fund targeting MicroStrategy.
