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One of the Largest Public Pension Funds Increases Bitcoin Exposure

One of the Largest Public Pension Funds Increases Bitcoin Exposure

Cryptodnes2024/08/16 11:45
By:Cryptodnes

South Korea's National Pension Service (NPS), the world's third-largest pension fund by assets, increased its exposure to Bitcoin by purchasing shares of MicroStrategy, a company known for its significant holdings in BTC.

In the second quarter of this year, NPS purchased 24,500 shares of MicroStrategy Inc. worth $33.7 million, as disclosed in its recent filing with the U.S. Securities and Exchange Commission (SEC).

This strategic acquisition follows NPS’ previous investments aimed at gaining indirect exposure to Bitcoin . In the third quarter of last year, the fund purchased 282,673 shares of Coinbase, valued at $19.9 million at the time.

According to the latest filing , NPS owned 229,807 shares of Coinbase Global Inc. with an estimated value of $51 million as of the end of June, although that was a slight decrease from the 253,763 shares it owned at the end of March.

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MicroStrategy, led by CEO Michael Saylor, has earned a reputation as Bitcoin’s largest corporate holder, with 226,500 BTC (approximately $13.2 billion).

Year-to-date, MicroStrategy shares are up 92%, reflecting their strong performance, while Coinbase shares are up 25%. These gains highlight the growing interest and confidence in Bitcoin and its related assets, particularly among institutional investors such as NPS.

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