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 filing with the United States Securities and Exchange Commission shows.
The National Pension Service is South Korea’s public pension and the country’s largest investor, with over $777 billion (1 trillion won) in total assets at the end of February.
The filing, which details its investments for the quarter ended June 30, 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 Jack Dorsey’s Block, Inc.
MicroStrategy (MSTR) has seen a 92.5% gain so far this year and has climbed above $150 for the first time in over 24 years, according to Google Finance.
Related: 4 years in, MicroStrategy’s Bitcoin gamble beats Warren Buffett’s warning
The company has been buying Bitcoin (BTC) since August 2020, and its earnings report earlier this month shows it purchased an additional 12,222 Bitcoin for $805 million in the second quarter of 2024.
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 Bitcoin miner Marathon Digital, according to CoinGecko.
Others, too, think MicroStrategy is a good bet, with exchange-traded fund (ETF) issuer Defiance ETFs launching a United States-based fund that targets a 175% long daily exposure to MicroStrategy.
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