South Korea’s National Pension Service now owns more than $32 million worth of MicroStrategy (MSTR) shares after investing in the Bitcoin (BTC)-friendly US firm earlier this year.
The Pension Service, which reportedly manages $764.8 billion worth of assets at the end of 2023, has accumulated 24,500 MSTR shares as of June 30th, according to a securities filing.
In July, the business intelligence firm announced a 10-1 stock split of its class A common stock and class B common stock to “make MicroStrategy’s stock more accessible to investors and employees.”
That means the National Pension Service now owns 245,000 MSTR shares worth $32.5 million at time of writing.
The National Pension Service also invested in Coinbase (COIN) stock last year, buying 282,670 shares in the crypto exchange as of December 31st, 2024. The pension fund has gradually decreased its COIN holdings this year and now owns 229,807 shares worth $47.18 million.
MicroStrategy is the world’s largest corporate holder of Bitcoin with a trove of 226,500 BTC currently worth more than $13.38 billion. The firm has purchased its BTC at an average price of $36,798, according to a quarterly press release.
Said MicroStrategy CEO Phong Le,
“On the adoption front, we are extremely optimistic with the improved understanding of Bitcoin and the increasing support for the ecosystem from bipartisan politicians and institutions on display at the Bitcoin 2024 Conference in Nashville.”
Bitcoin is trading at $59,199 at time of writing, up over 3% in the last 24 hours.
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The post South Korean Pension Fund Invests $32,500,000 in MicroStrategy As the US Firm Continues To Gobble Up Bitcoin appeared first on The Daily Hodl.
