The third-largest public pension fund in the world has just bought nearly $34 million worth of shares in MicroStrategy, a Bitcoin-buying business intelligence firm.
South Korea’s National Pension Service (NPS) purchased 24,500 MicroStrategy shares for a price of $33.75 million, an Aug. 13 filing with the United States Securities and Exchange Commission shows.
The National Pension Service is South Korea’s public pension and the country’s largest investor, with over 1 trillion won ($777 billion) in total assets at the end of February.
The filing, which details its investments in the second quarter of the year, shows it still holds an over $51 million stake in Coinbase, holding 229,807 shares of the crypto exchange.
It also has $31.5 million invested into Roblox and $61.5 million worth of Jack Dorsey’s Block.
Thinking Ahead Institute’s annual Global Pension Assets Study shows that Japan’s Government Pension Investment Fund is the world’s largest pension fund, with nearly $1.5 trillion in total assets as of 2023. Next is the Government Pension Fund of Norway, with just over $1.3 trillion.
Meanwhile, MicroStrategy stock has seen a 92.5% gain so far in 2024, climbing above $150 for the first time in over 24 years, according to Google Finance.
