The world’s third-largest pension fund, NPS, acquires $34 million in MicroStrategy stock

South Korea’s National Pension Service (NPS) bought nearly $34 million in shares of MicroStrategy (MSTR) during 2024Q2.

With significant investments in other crypto companies, NPS, which happens to be the third largest pension fund in the world by assets, has shown a clear expansion of its interest in the digital asset space.

According to the latest filing with the US Securities and Exchange Commission (SEC), the fund acquired 24,500 shares at an average price of $1,377.48 each on August 13th.

The NPS investment is seen as indirect exposure to Bitcoin from MicroStrategy’s pivot to the industry. Initially famous for its business analytics software, MicroStrategy has become a major entity in Bitcoin investments. This shift, largely attributed to CEO Michael Saylor’s strong advocacy for Bitcoin, has led the company to become the largest corporate holder of Bitcoin under his leadership.

In 2024, MicroStrategy shares rose 92.5%, topping $150 for the first time in more than 24 years, according to data compiled by Google Finance. Since August 2020, MicroStrategy has been acquiring Bitcoin, and its August earnings report indicates an additional purchase of 12,222 Bitcoin for $805 million in the second quarter.

The filing also revealed that the fund, which has more than $800 billion in assets, also owns 229,807 shares of Coinbase worth more than $51 million. He also has $31.5 million in Roblox and $61.5 million in Jack Dorsey’s Block.

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