The Nationwide Pension Service, South Korea's nationwide pension fund, introduced the acquisition of MicroStrategy shares for almost $34 million.
NPS is the most important public pension fund in South Korea and the third largest on the earth with property valued at over $729 billion.
Wu Blockchain shared the information by way of X:
South Korea's Nationwide Pension Service (NPS) introduced that it purchased 245,000 shares of MicroStrategy within the second quarter of this yr, valued at about $33.75 million. Beforehand, NPS purchased 282,700 shares of Coinbase within the third quarter of final yr. The NPS manages $729.77 billion…
— Wu Blockchain (@WuBlockchain) August 16, 2024
Particulars filed with the U.S. Securities and Change Fee present that NPS acquired 245,500 shares of MicroStrategy price a complete of $33.5 million. The submitting pertains to the fund's investments within the quarter ending June 30, 2024.
Based on the information website Infomax, the Nationwide Pension Service's funding in US MicroStrategy shares makes up 0.04% of the fund's whole investments in US shares.
Along with MSTR, the fund additionally holds greater than $51 million in Coinbase shares, $31.5 million in Roblox, and greater than $61 million in Block, Inc. shares. The fund additionally owns shares in AI chip firm Nvidia and tech giants Google and Microsoft.
MicroStrategy is up 92% YTD.
Whereas MicroStrategy shares are down 20% because the crypto market struggles with unstable situations. Regardless of falling from highs of $180 in mid-July to round $131 at this time, MSTR stays up greater than 92% year-to-date.
MicroStrategy, in addition to high crypto-related corporations like Coinbase, are largely bullish amid Bitcoin's development and projections. For MicroStrategy led by Michael Saylor, a part of the success got here after adopting a technique of including BTC to its steadiness sheet.
MSTR has surged alongside bitcoin since MicroStrategy first purchased BTC in 2020, the most recent surge coming amid bitcoin's bid to recapture $60,000.
Saylor stated in a latest put up on X that MSTR outperformed 499 of the five hundred shares within the S&P 500.
4 years in the past at this time, MicroStrategy was adopted #Bitcoin as a major asset of state reserves; since $ MSTR outperformed 499 of the five hundred shares within the S&P 500. pic.twitter.com/Db7GVeyc9a
— Michael Saylor⚡️ (@saylor) August 11, 2024
The corporate acquired an extra 12,222 BTC in Q2 2024, including greater than $805 million in BTC to its haul. MicroStrategy presently holds 226,500 BTC price over $13 billion.
