South Korea’s National Pension Service Invests $34 Million in MicroStrategy Stock
South Korea’s National Pension Service (NPS), the largest public pension fund in the country and third largest in the world with assets over US$729 billion, recently revealed its investment in MicroStrategy stock.
According to Wu Blockchain, NPS purchased 245,000 shares of MicroStrategy in the second quarter of the year amounting to approximately US$33.75 million.
Investment Details and Portfolio Allocation
The U.S. Securities and Exchange Commission filings show that NPS bought 245,500 shares of MicroStrategy stock for $33.5 million. This investment represents 0.04% of the fund’s total U.S. equity investments.
In addition to MicroStrategy, NPS holds significant stakes in other tech companies like Coinbase, Roblox, and Block, Inc., among others.
MicroStrategy Stock Performance and Bitcoin Strategy
Despite recent market fluctuations, MicroStrategy’s stock has surged by 92% year-to-date. The company’s strategic move to add Bitcoin to its balance sheet has been a key driver of its success.
MicroStrategy, led by CEO Michael Saylor, has been a vocal advocate for Bitcoin and has seen its stock performance closely tied to the cryptocurrency’s market movements.
With the recent purchase of an additional 12,222 BTC, MicroStrategy now holds over 226,500 Bitcoins, valued at more than $13 billion.
Outlook and Comparison to S&P 500
MicroStrategy’s continued bullish stance on Bitcoin and its strong stock performance have set it apart from its peers. CEO Michael Saylor highlighted that MSTR has outperformed 499 of the 500 stocks in the S&P 500 index.
As the company’s Bitcoin holdings grow, its success story in the crypto space continues to capture the attention of investors and industry experts alike.
