South Korea's Pension Fund Invests $34 Million in MicroStrategy Shares ☑️
Aug-20-2024 07:36:35 AM
South Korea's National Pension Service, which is the third-largest public pension fund in the world, has acquired 24,500 shares of MicroStrategy at a price of $33.75 million.
MicroStrategy shares have risen more than 92.5% since the start of the year thanks to its Bitcoin strategy.
The company has been buying the flagship cryptocurrency since August 2020 and currently holds 226,500 BTC , worth about $13.19 billion.
This makes MicroStrategy the public company with the largest Bitcoin holdings, which is approximately 13 times more BTC than the world's largest miner, Marathon Digital.
South Korea's pension agency is actively investing in cryptocurrency-related companies.
For example, the National Pension Service of South Korea owns 229,807 shares of the Coinbase (NASDAQ: COIN ) exchange worth more than $51 million and securities of the online gaming platform Roblox worth more than $31.5 million.