Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/south-koreas-national-pension-fund-buys-microstrategy-shares/" data-wpel-link="internal">South Korea’s National Pension Fund Buys MicroStrategy Shares</a><br></p>
<p style="text-align: justify">South Korea’s National Pension Fund (<strong>NPS</strong>) purchased MicroStrategy shares worth $34 million in the second quarter of 2024. This move is considered an indirect investment in <a href="https://en.coin-turk.com/bitcoin-struggles-to-stay-above-27000-level/" data-wpel-link="internal">Bitcoin</a> since the company is one of the largest Bitcoin (BTC) holders. The fund also holds Coinbase shares valued at over $45 million.</p> 
<h2 style="text-align: justify" id="microstrategy-investment-implies-indirect-bitcoin-investment">MicroStrategy Investment Implies Indirect Bitcoin Investment</h2> 
<p style="text-align: justify"><strong>South Korea</strong>‘s National Pension Fund’s (NPS) recent investment move stood out as a notable action in the <a href="https://newslinker.co/category/technology/" target="_blank" rel="noopener" data-wpel-link="exclude">technology</a> and finance world. NPS bought 24,500 shares worth $34 million from MicroStrategy, managed by Michael Saylor. This purchase was made before MicroStrategy’s 10:1 stock split.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-380471 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/bitcoin-151.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">The average purchase price of the shares was announced as $1,377.48. With the 10:1 stock split, MicroStrategy increased its total number of shares to 245,000, and the total value of these shares was recorded as $32.32 million, calculated at the company’s last closing price of $131.93.</p> 
<p style="text-align: justify">This investment can be interpreted as an indirect investment in Bitcoin since MicroStrategy is one of the largest institutional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> in Bitcoin. NPS’s strategic move can be seen as an indication of its interest in Bitcoin. As MicroStrategy is known to be one of the largest Bitcoin holders, investing in the company’s shares becomes an indirect investment in Bitcoin.</p> 
<h2 style="text-align: justify" id="benchmark-s-price-target-and-nps-s-coinbase-investment">Benchmark’s Price Target and NPS’s Coinbase Investment</h2> 
<p style="text-align: justify"><strong>MicroStrategy</strong>‘s performance during this period is closely monitored by Benchmark, one of Wall Street’s leading brokerage firms. Despite missing its second-quarter revenue targets, the firm raised its price target for MicroStrategy’s stock from $1,875 to $2,150.</p> 
<p style="text-align: justify">However, MicroStrategy is not the only asset in NPS’s investment portfolio. The fund also holds Coinbase shares valued at over $45 million. NPS started buying these shares in 2023, acquiring a total of 282,673 shares at an average price of $70.5.</p> 
<p style="text-align: justify">As of today, NPS’s total number of shares in Coinbase is recorded at 229,807, and the value of these shares exceeds $45 million, calculated at Coinbase’s last closing price of $197.12.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/south-koreas-national-pension-fund-buys-microstrategy-shares/" data-wpel-link="internal">South Korea’s National Pension Fund Buys MicroStrategy Shares</a></h5>
<p>The post <a href="https://en.coin-turk.com/south-koreas-national-pension-fund-buys-microstrategy-shares/" data-wpel-link="internal">South Korea’s National Pension Fund Buys MicroStrategy Shares</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

South Korea’s National Pension Fund Buys MicroStrategy Shares

Table of Contents

COINTURK NEWS

Other articles published on Aug 16, 2024

Triple Crypto Market Bull Run: How Bitcoin Paves the Path

U.S. and China Governments Among Top Bitcoin Holders

Why ZCash’s Price Topped the Crypto Charts Last Week?

Cryptex.net: Forecasting Future Prices of Cryptocurrency Using Historical Data

US Gov’t Silk Road Bitcoin Moved to Coinbase Will Not Be Sold

Bitcoin Price Swings Between Key Levels

Join our free newsletter for daily crypto updates!