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Home»ADOPTION NEWS»South Korea’s National Pension Fund purchased $33.7 million worth of MicroStrategy stock in the second quarter.
ADOPTION NEWS

South Korea’s National Pension Fund purchased $33.7 million worth of MicroStrategy stock in the second quarter.

By Crypto FlexsAugust 16, 20242 Mins Read
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South Korea’s National Pension Fund purchased .7 million worth of MicroStrategy stock in the second quarter.
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Company • August 16, 2024 3:05 AM EDT

Posted 1 minute earlier ~ in

South Korea’s National Pension Service, the world’s third-largest pension fund by assets, purchased $33.7 million worth of MicroStrategy stock in the second quarter of this year.

NPS’s Holdings ReportThe pension fund bought 24,500 shares of Microstrategy Inc. in the second quarter, according to a report filed with the Securities and Exchange Commission this week.

This move is intended to increase the fund’s indirect exposure to Bitcoin. Previous Purchases In Q3 last year, he purchased 282,673 shares of Coinbase, worth $19.9 million at the time.

Latest NPS filing The pension fund said it owned 229,807 shares of Coinbase Global Inc. worth about $51 million at the end of June. Maintained As of the end of March, Coinbase had 253,763 shares outstanding.

MicroStrategy is the largest corporate Bitcoin holder, owning 226,500 BTC or approximately $13.2 billion. According to ~ BitcoinTreasuries. Given its significant Bitcoin holdings, MicroStrategy has often been used as a proxy for Bitcoin exposure in traditional markets. This week, the U.S. Securities and Exchange Commission Approved The first leveraged exchange-traded fund (ETF) targeting MicroStrategy

MicroStrategy’s stock has risen 92% so far this year, while Coinbase’s stock has risen 25% since the beginning of the year.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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