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The third-largest public pension fund in the world has just bought nearly $34 million worth of shares in MicroStrategy, a Bitcoin-buying business intelligence firm.
South Korea’s National Pension Service (NPS) purchased 24,500 MicroStrategy shares for a price of $33.75 million, an Aug. 13 <a href="https://www.sec.gov/Archives/edgar/data/1608046/000160804624000005/xslForm13F_X02/20242q.xml" target="_blank" rel="noopener nofollow">filing</a> with the United States Securities and Exchange Commission shows.
The National Pension Service is <a href="https://cointelegraph.com/news/south-korean-crypto-exchanges-unexpected-fees">South Korea’s</a> public pension and the country’s largest investor, with over 1 trillion won ($777 billion) in total assets at the end of February.
The filing, which details its investments in the second quarter of the year, shows it still holds an over $51 million stake in Coinbase, holding 229,807 shares of the crypto exchange.
It also has $31.5 million invested into Roblox and $61.5 million worth of <a href="https://cointelegraph.com/learn/jack-dorsey">Jack Dorsey’s</a> Block.
Thinking Ahead Institute’s annual Global Pension Assets Study&nbsp;<a href="https://www.thinkingaheadinstitute.org/research-papers/global-pension-assets-study-2023/" target="_blank" rel="noopener nofollow">shows</a>&nbsp;that Japan’s Government Pension Investment Fund is the world’s largest pension fund, with nearly $1.5 trillion in total assets as of 2023. Next is the Government Pension Fund of Norway, with just over $1.3 trillion.&nbsp;
Related: <a href="https://cointelegraph.com/news/4-years-in-micro-strategy-bitcoin-gamble-warren-buffett-warning">4 years in, MicroStrategy’s Bitcoin gamble beats Warren Buffett’s warning</a>
Meanwhile, MicroStrategy stock has seen a 92.5% gain so far in 2024, climbing above $150 for the first time in over 24 years, <a href="https://www.google.com/finance/quote/MSTR:NASDAQ" target="_blank" rel="noopener nofollow">according</a> to Google Finance.
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 <img src="https://s3.cointelegraph.com/uploads/2024-08/ec4e0aa5-0916-4eb0-9ff6-b7518d579964.png" alt="World’s 3rd-largest public pension fund buys $34M of MicroStrategy shares" title="">
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 MicroStrategy’s stock price has nearly doubled so far this year. Source: Google Finance
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The company has been buying Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) since August 2020, and its <a href="https://cointelegraph.com/news/microstrategy-q2-earnings-reveals-bitcoin-stockpile-14-7-billion">August earnings report</a>&nbsp;shows it purchased an additional 12,222 Bitcoin for $805 million in the second quarter.
MicroStrategy’s latest Bitcoin buy brought its total holdings to 226,500 BTC, which is worth around $13.19 billion at Bitcoin’s current price.
It makes MicroStrategy the public company with the largest Bitcoin holdings, with around 13 times more Bitcoin than the world’s largest <a href="https://cointelegraph.com/learn/how-to-mine-bitcoin-a-beginners-guide-to-mine-btc">Bitcoin miner</a> Marathon Digital, <a href="https://www.coingecko.com/en/public-companies-bitcoin" target="_blank" rel="noopener nofollow">according</a> to CoinGecko.
Others, too, think MicroStrategy is a good bet, with exchange-traded fund issuer Defiance ETFs launching a United States-based fund that targets a 175% long <a href="https://cointelegraph.com/news/first-leveraged-microstrategy-etf-launches-us">daily exposure to MicroStrategy</a>.
Asia Express: <a href="https://cointelegraph.com/magazine/metaverse-korea-3ac-terra-crypto-xrp-asia-express/">Low users, sex predators kill Korean metaverses, 3AC sues Terra</a>

World’s 3rd-largest public pension fund buys $34M of MicroStrategy shares

Cointelegraph

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