- Twelve U.S. states hold $330 million in Strategy stock across pension funds and treasuries.
- California’s pension funds lead with $83 million in Strategy stock and additional Bitcoin exposure.
- Strategy’s stock has surged 383% in 2024, outpacing the broader crypto market’s growth.
Twelve states from the United States have incorporated Strategy stock into their public pension funds and treasury portfolios. The total value of state-owned Strategy shares are valued at $330 million as of the end of 2024. Public investments from California, Florida, Wisconsin and North Carolina states reflect the growing interest in Michael Saylor’s business intelligence company and its Bitcoin-based approach.
California Holds the Largest Stake
California’s public pension funds have the biggest exposure to Strategy stock. The California State Teachers’ Retirement System holds 285,785 shares, worth approximately $83 million. This is part of a diverse $69 billion portfolio. CalSTRS also has shares in Coinbase, valued at $76 million.
The California Public Employees’ Retirement System (CalPERS) has substantial investments in the company as well. It holds 264,713 shares, worth about $76 million, in addition to $79 million in Coinbase stock. These funds are gaining indirect exposure to Bitcoin, as Strategy is one of the largest corporate holders of the cryptocurrency.
Other States Add Strategy to Portfolios
Florida, Wisconsin, and North Carolina have also invested in Strategy stock. Florida’s State Board of Administration holds 160,470 shares worth about $46 million. The State of Wisconsin Investment Board owns 100,957 shares, valued at $29 million. North Carolina has $22 million worth of the stock in its pension fund. Smaller investments are made by Arizona, Colorado, Illinois, Louisiana, Maryland, Texas, and Utah.
Strategy’s stock performance shows significant growth by surging 16.5% since the beginning of 2025. The stock has demonstrated exceptional growth with a 383% increase while surpassing the broader cryptocurrency market’s increase of 62%. The stock performance data indicates investors find value in Strategy’s approach of utilizing Bitcoin as its primary asset.
Institutional interest in Bitcoin continues to grow as state-level funds invest in Strategy and pension funds seeking cryptocurrency exposure opportunities.
