Twelve North American states have invested $330 million in Strategy stock through their pension funds, according to recent regulatory filings.
California Leads the Way
California's pension funds hold the largest share of Strategy stock. The California State Teachers Retirement System (CalSTRS) owns 285,785 shares worth approximately $83 million as of February 14, 2025. Additionally, the California Public Employees’ Retirement System (CalPERS) holds 264,713 shares, valued at $76 million.
Increased Investments in Other States
Florida, Wisconsin, North Carolina, and New Jersey are also actively increasing their investments in Strategy stock. For instance, Florida's State Board of Administration holds 160,470 shares worth $46 million, while Wisconsin has invested in 100,957 shares valued at $29 million.
Benefits of Investing in Strategy
By investing in Strategy, public pension funds are gaining indirect exposure to Bitcoin without directly holding the cryptocurrency. Strategy, formerly MicroStrategy, has positioned itself as a Bitcoin-focused company, making it attractive to institutional investors.
With the growing demand for Bitcoin-like investments and the approval of Bitcoin ETFs, public pension funds may continue increasing investments in Bitcoin-related stocks like Strategy and Coinbase.
