Key Points
- South Korea’s National Pension Fund purchased MicroStrategy shares value $33.7 million in Q2 2024.
- The fund additionally has Coinbase shares holdings value $51 million on the finish of June.
Institutional crypto funding and oblique crypto publicity are intensifying this yr with the newest disclosure coming from South Korea’s National Pension Fund.
This is the third largest pension fund by property on the earth, and in response to new stories, they purchased MicroStrategy shares value about $33.7 million in Q2 2024.
The pension fund submitted its holdings report to the US SEC this week, with August 13 as its submitting date.
According to the official report, the fund purchased 24,500 MicroStrategy shares within the second quarter of this yr.
Indirect Bitcoin Exposure by way of MicroStrategy
The newest transfer made by South Korea’s National Pension Fund goals to broaden its oblique publicity to Bitcoin.
MicroStrategy is the biggest company Bitcoin holder with complete holdings of 226,500 BTC value roughly $13.2 billion, in response to information from BitcoinTreasuries.
MicroStrategy is an American firm offering enterprise intelligence, cell software program, and cloud-based providers. They started accumulating Bitcoin again in August 2020, after they introduced the acquisition of 21,454 BTC for about $250 million.
MicroStrategy’s preliminary funding marked an vital milestone within the firm’s treasury administration technique, citing Bitcoin’s potential as a hedge towards inflation and a viable retailer of worth.
Considering its substantial Bitcoin holdings, the corporate has usually been used as a bridge to oblique Bitcoin publicity within the conventional market. It’s additionally value noting that the US SEC authorised the primary leverage ETF focusing on MicroStrategy this week, MSTX, launched by Defiance ETFs.
Investing in MicroStrategy will not be the primary and solely transfer made by the National Pension Fund in South Korea that means curiosity in oblique Bitcoin publicity.
South Korea’s NPS’ Coinbase Shares Investment
The South Korea National Pension Fund additionally invested in Coinbase shares in Q3 2023.
In the third quarter of final yr, the fund bought 282,673 Coinbase shares value about $19.9 million on the time.
According to the newest 13F filing with the SEC, the fund’s complete holdings of Coinbase Global Inc. amounted to 229,807 shares value roughly $51 million on the finish of June.
13F filings are quarterly stories filed with the US SEC by institutional funding managers who personal no less than $100 million in fairness property underneath administration.
