South Korea’s National Pension Service Invests in MicroStrategy

The National Pension Service (NPS) of South Korea has expanded its exposure to digital asset companies by acquiring 245,000 shares of MicroStrategy during the second quarter of 2024. According to a recent 13F Quarterly filing submitted to the U.S. Securities and Exchange Commission on Aug. 16, the shares were purchased for approximately 46 billion won ($33.7 million), representing 0.04% of NPS’s U.S. stock portfolio.

This investment continues NPS’s strategy of integrating crypto-related firms into its portfolio. In the third quarter of 2023, NPS purchased 282,673 shares of Coinbase, which is its first significant move into the digital asset space. The Coinbase investment proved profitable, as the company’s stock substantially increased from $78 to approximately $220. NPS capitalized on this growth by selling 23,956 shares, earning gains from the investment.

MicroStrategy has increasingly focused on Bitcoin acquisition, becoming the largest publicly listed corporate holder of Bitcoin. As of mid-2024, the company owns 226,500 Bitcoin, with a value estimated at $13.21 billion. The firm’s strategy revolves around consistent Bitcoin purchases, regardless of market conditions. Recent acquisitions include 169 Bitcoin on Aug. 1 for $67,400 each and a larger purchase of 11,931 Bitcoin in June for $786 million.

MicroStrategy’s co-founder Michael Saylor, known for his strong advocacy of Bitcoin, has consistently reiterated his confidence in the cryptocurrency’s long-term potential. Saylor personally holds 17,732 Bitcoin and has maintained his holdings without selling. The company’s commitment to Bitcoin is further evidenced by its recent purchases, which align with its strategy of accumulating Bitcoin over time.

NPS’s portfolio includes technology giants such as Nvidia, Google, and Microsoft. The pension fund’s decision to include these stocks aligns with its approach to balancing risk and seeking opportunities in growth sectors.

The NPS’ move comes at a time when the SEC has also approved the launch of a single-stock leveraged long ETF for MicroStrategy, allowing greater access for investors interested in the company’s stock performance. The Shib Daily earlier reported that this ETF offers 175% long daily exposure to MicroStrategy.

Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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