- MicroStrategy shares were purchased by South Korea’s National Retirement Service for $34 million.
- The investment gives the insurance company indirect exposure to Bitcoin via MicroStrategy.
- The NPS also invested in Coinbase, indicating an increased interest in digital assets.
South Korea’s National Pension Service (NPS) made a large deal in MicroStrategy, purchasing $34M in its stock. The NPS, one of the world’s largest public pension schemes, bought 24,500 shares at an ordinary price of $1,377.48 per share. This acquisition occurred just before MicroStrategy’s 10-for-1 stock split earlier this month. The retirement plan fund now owns 245,000 tickets, considered at approximately $32.32 M based on the company’s latest closing expense.
Growing Interest in Cryptocurrency
The NPS also made investments in Coinbase, another major player in the crypto Sector. The retirement allocate owns 229,807 shares in the same company, which are worth more than $45 million. The NPS began buying stakes in Coinbase in 2023 with an initial settlement of 282,673 contributions at a standard cost of $70.5 each. This shows the NPS’s increasing interest in gaining exposure to digital resources.
MicroStrategy’s value has become a key indicator for Bitcoin because of the company’s heavy stake in the crypto. Buyers who want indirect exposure to BTC are increasingly drawn to its shares. This connection with Bitcoin makes MicroStrategy a notable choice for large institutions like the NPS.
Institutional Investors and Bitcoin
The NPS’s move reflects a broader trend among organisations looking for exposure to Bitcoin in indirect ways. For instance, Retirement Planning Company of New England recently purchased 4,685 shares of Grayscale’s Bitcoin Trust for $249,429 in total. Similarly, the State of Wisconsin bought $99 million worth of BlackRock’s Bitcoin ETFs, and the State of Michigan Retirement System invested $66 million in the ARK 21Shares ARKB spot Bitcoin ETF. These actions show that many institutional investors are entering the cryptocurrency market without directly holding digital assets.
These investments highlight a growing shift in how traditional financial institutions are approaching Bitcoin. The involvement of big players like the NPS and others suggests a broader acceptance of cryptocurrency in mainstream finance. As more institutions follow this trend, the landscape of institutional investment in digital assets will likely keep changing.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
