The National Pension Service (NPS) of South Korea purchased nearly $34 million in MicroStrategy (MSTR) shares during the second quarter of 2024. NPS, which happens to be the world’s third-largest pension fund by assets, has demonstrated a clear expansion of its interest in the digital assets space.
NPS Investments in MicroStrategy
According to the latest filing with the US Securities and Exchange Commission (SEC), the fund acquired 24,500 shares at an average price of $1,377.48 each on August 13, 2024. This investment is perceived as an indirect exposure to Bitcoin since MicroStrategy is known for its substantial investments in the digital asset.
Impact of CEO Michael Saylor
Initially famous for its business analytics software, MicroStrategy has transitioned into a significant entity in Bitcoin investments, largely due to the influence of CEO Michael Saylor. Under his leadership, the company has become the largest corporate Bitcoin holder. In 2024, MicroStrategy’s stock surged by 92.5%, surpassing $150 for the first time in more than 24 years.
Other NPS Investments
In addition to MicroStrategy shares, the fund, which boasts over $800 billion in assets, also holds 229,807 shares of Coinbase worth over $51 million, $31.5 million in Roblox, and $61.5 million in Jack Dorsey’s Block.
The investments of the National Pension Service in MicroStrategy and other crypto companies indicate a growing interest from large institutional capital in the digital assets sector.
Comments