South Korea's Public Pension Fund Makes Indirect Bet on Bitcoin by Buying $34M of MicroStrategy Shares

South Korea's National Pension Service (NPS) has purchased $34 million worth of shares in MicroStrategy, the business intelligence firm that has accumulated

South Korea's National Pension Service (NPS) has purchased $34 million worth of shares in MicroStrategy (NASDAQ:MSTR), the business intelligence firm that is also known for holding billions of dollars in Bitcoin.

The NPS bought 24,500 MicroStrategy shares in the second quarter at an average price of $1,377, according to a recent SEC filing. This translates to roughly 245,000 shares after MicroStrategy's 10-for-1 stock split earlier this month.

As South Korea's public pension fund, the NPS is the country's largest institutional investor, with over $777 billion in assets. The MicroStrategy investment can be seen as an indirect bet on Bitcoin.

MicroStrategy holds the most Bitcoin of any publicly traded company, with over 226,500 BTC that is currently worth around $13.2 billion. The firm took on debt to accumulate most of its Bitcoin, making the stock a leveraged play on BTC.

Le NPS rejoint une liste croissante de fonds de pension et de fonds souverains qui s'exposent au Bitcoin via MicroStrategy. La banque centrale de Norvège et la Banque nationale suisse ont également divulgué plus tôt les avoirs de MicroStrategy.

Le cours de l'action de MicroStrategy a presque doublé cette année alors que de plus en plus d'acteurs institutionnels parient sur la stratégie Bitcoin de l'entreprise. Les ETF Defiance ont même lancé un ETF à effet de levier qui cible 175 % des mouvements quotidiens de MicroStrategy.

L'adoption par les grands fonds de pension des actions MicroStrategy valide également l'émergence de Bitcoin comme la meilleure trésorerie pour les entreprises publiques.

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