South Korea’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

JUST IN: \ud83c\uddf0\ud83c\uddf7 South Korean pension fund reports buying $34 million in MicroStrategy shares. pic.twitter.com\/Sg5cRAkjzZ<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) August 16, 2024<\/a><\/p>\n

According to a 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’s 10-for-1 stock split this month.<\/p>\n

As South Korea’s public pension fund, the NPS is the country’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

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

The NPS joins a growing list of pension and sovereign wealth funds, gaining exposure to Bitcoin through MicroStrategy. Norway’s central bank and the Swiss National Bank also disclosed MicroStrategy holdings earlier.<\/p>\n

MicroStrategy’s stock price has nearly doubled this year as more institutional players bet on the company’s Bitcoin strategy. Defiance ETFs even launched a leveraged ETF<\/a> that targets 175% of MicroStrategy’s daily moves.<\/p>\n

Major pension funds’ global embrace of MicroStrategy shares validates Bitcoin’s emergence as the best treasury for public companies.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

South Korea’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 […]<\/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","targetHints":{"allow":["GET"]}}],"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}]}}