{"id":27297,"date":"2024-08-16T10:02:56","date_gmt":"2024-08-16T10:02:56","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/08\/16\/south-korean-pension-fund-buys-34-million-in-microstrategy-shares\/"},"modified":"2024-08-16T10:02:56","modified_gmt":"2024-08-16T10:02:56","slug":"south-korean-pension-fund-buys-34-million-in-microstrategy-shares","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/08\/16\/south-korean-pension-fund-buys-34-million-in-microstrategy-shares\/","title":{"rendered":"South Korean Pension Fund Buys $34 Million in MicroStrategy Shares"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/south-korea\">South Korea&#8217;s <\/a>National Pension Service (NPS) has purchased $34 million worth of shares in MicroStrategy, the business intelligence firm that has accumulated billions in Bitcoin.<\/p>\n<p>JUST IN: \ud83c\uddf0\ud83c\uddf7 South Korean pension fund reports buying $34 million in MicroStrategy shares. <a href=\"https:\/\/t.co\/Sg5cRAkjzZ\">pic.twitter.com\/Sg5cRAkjzZ<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1824364539640463660?ref_src=twsrc%5Etfw\">August 16, 2024<\/a><\/p>\n<p>According to a <a href=\"https:\/\/fintel.io\/so\/us\/mstr\/national-pension-service\">recent SEC filing<\/a>, the NPS bought 24,500 MicroStrategy shares in the second quarter at an average price of $1,377. This translates to roughly 245,000 shares after MicroStrategy&#8217;s 10-for-1 stock split this month.<\/p>\n<p>As South Korea&#8217;s public pension fund, the NPS is the country&#8217;s largest institutional investor, with over $777 billion in assets. The $34 million MicroStrategy investment can be seen as an indirect bet on Bitcoin.<\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/microstrategy\">MicroStrategy<\/a> holds the most Bitcoin of any publicly traded company, with over 226,500 BTC worth around $13.2 billion. The firm took on debt to accumulate most of its Bitcoin, making the stock a leveraged play on Bitcoin.<\/p>\n<p>The NPS joins a growing list of pension and sovereign wealth funds, gaining exposure to Bitcoin through MicroStrategy. Norway&#8217;s central bank and the Swiss National Bank also disclosed MicroStrategy holdings earlier.<\/p>\n<p>MicroStrategy&#8217;s stock price has nearly doubled this year as more institutional players bet on the company&#8217;s Bitcoin strategy. Defiance ETFs even <a href=\"https:\/\/bitcoinmagazine.com\/business\/sec-approves-the-first-leveraged-microstrategy-etf\">launched a leveraged ETF<\/a> that targets 175% of MicroStrategy&#8217;s daily moves.<\/p>\n<p>Major pension funds&#8217; global embrace of MicroStrategy shares validates Bitcoin&#8217;s emergence as the best treasury for public companies.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p>South Korea&#8217;s National Pension Service (NPS) has purchased $34 million worth of shares in MicroStrategy, the business intelligence firm that has accumulated billions in Bitcoin. JUST IN: \ud83c\uddf0\ud83c\uddf7 South Korean pension fund reports buying $34 million in MicroStrategy shares. pic.twitter.com\/Sg5cRAkjzZ \u2014 Bitcoin Magazine (@BitcoinMagazine) August 16, 2024 According to a recent SEC filing, the NPS [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27297","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27297"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=27297"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27297\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=27297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=27297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=27297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}