The Wisconsin Investment Board has reported an increase in its Bitcoin investments, reflecting a growing interest among state and institutional investors in cryptocurrencies.
Wisconsin's Bitcoin Investments
The Wisconsin Investment Board (SWIB) has increased its Bitcoin investment to $45.4 million. This was done indirectly by purchasing shares of MicroStrategy ($MSTR), a company known for its large Bitcoin reserves.
MicroStrategy as a Strategic Gateway to Bitcoin
MicroStrategy, led by Bitcoin advocate Michael Saylor, has become a popular way for institutional investors to gain exposure to Bitcoin without directly holding the cryptocurrency. By purchasing $MSTR shares, the Wisconsin Investment Board effectively gains a stake in the company’s substantial Bitcoin holdings, which exceed 200,000 BTC.
States Stepping Into the Crypto Arena
Wisconsin's move adds to a broader narrative—US state investment funds are beginning to see crypto as more than speculative assets. The Wisconsin Investment's decision suggests that Bitcoin is gaining legitimacy not just on Wall Street, but also at the state finance level.
The Wisconsin Investment Board's increased Bitcoin investments signify a rising interest among state funds in cryptocurrencies and could serve as a model for other states.
