South Korea's National Pension Service Adds MicroStrategy (MSTR) to Its Portfolio

The National Pension Service, the world's third-largest pension fund with nearly $800 billion in assets under management, has acquired 24,500 MicroStrategy

South Korea's National Pension Service (NPS) has added MicroStrategy, the world's largest corporate Bitcoin (BTC) holder, to its portfolio.

According to an Aug. 13 filing with the U.S. Securities and Exchange Commission, NPS acquired 24,500 MSTR shares for $33.75 million. The pension fund also disclosed its Coinbase (COIN) investment, which now stands at $51 million.

NPS acquired 282,673 Coinbase shares in 2023 for $19.92 million, and the investment has grown by nearly 150% over the past year. Now, the pension fund appears to be eyeing a similar return on its MicroStrategy shares.

MicroStrategy, a business analytics firm founded by Michael Saylor, began accumulating Bitcoin in 2020. To date, the firm has acquired 226,500 BTC, valued at $13.27 billion, marking a 65% increase from the $8.35 billion initially committed.

Several other key industry players have also expressed interest in MicroStrategy. Notably, two major central banks — the Norwegian and Swiss central banks — recently purchased MSTR shares, which have risen by 92.5% year-to-date.

Pension funds worldwide are increasingly showing interest in integrating Bitcoin into their portfolios. For instance, Japan's Government Pension Investment Fund, the largest pension in the world, is considering exploring investments in the apex cryptocurrency.

Moreover, other funds, such as the Houston Firefighters' Relief and Retirement Fund, have included Bitcoin in their portfolios since 2021.

With the introduction of spot Bitcoin exchange-traded funds, some institutions are opting for an indirect approach to gaining exposure to BTC. This move allows traditional funds to safely add BTC to their portfolios, a trend that institutions like CBOE Digital had anticipated.

Recently, the State of Michigan Retirement System disclosed a $6.6 million investment in ARK 21Shares' ARKB spot Bitcoin ETF last month, while the State of Wisconsin Investment Board made a $99 million Bitcoin investment in BlackRock's iShares Bitcoin Trust.

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