{"id":36097,"date":"2024-08-16T08:28:56","date_gmt":"2024-08-16T08:28:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/south-koreas-national-pension-fund-buys-34m-of-microstrategy-shares\/"},"modified":"2024-08-16T08:28:56","modified_gmt":"2024-08-16T08:28:56","slug":"south-koreas-national-pension-fund-buys-34m-of-microstrategy-shares","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/south-koreas-national-pension-fund-buys-34m-of-microstrategy-shares\/","title":{"rendered":"South Korea\u2019s national pension fund buys $34M of MicroStrategy shares"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b>
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The National Pension Service, South Korea\u2019s national pension fund, has reported purchases of nearly $34 million in MicroStrategy<\/a> shares.<\/span><\/p>\n

NPS is South Korea\u2019s largest public pension fund and the third-largest in the world with over $729 billion worth of assets.<\/span><\/p>\n

Wu Blockchain shared the news via X:<\/span><\/p>\n

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South Korea’s National Pension Service (NPS) disclosed that it bought 245,000 shares of MicroStrategy in the second quarter of this year, worth about $33.75 million. Previously, NPS bought 282,700 shares of Coinbase in the third quarter of last year. NPS manages $729.77 billion\u2026<\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) August 16, 2024<\/a><\/p>\n<\/blockquote>\n

Details filed with the US Securities and Exchange Commission indicate the NPS acquired 245,500 of MicroStrategy shares at a total of $33.5 million. The filing relates to the fund\u2019s investments in the quarter ending June 30, 2024.<\/span><\/p>\n

According to news outlet Infomax<\/a>, the National Pension Service\u2019s investment in shares of the US-based MicroStrategy accounts for 0.04% of the fund\u2019s total investment in US stocks.<\/span><\/p>\n

Apart from MSTR, the fund also holds more than $51 million in Coinbase shares, $31.5 million in Roblox and over $61 million in shares of Block, Inc. The fund also holds shares of AI-chip powerhouse Nvidia, and tech giants Google and Microsoft.<\/span><\/p>\n

MicroStrategy shares up 92% YTD<\/span><\/h2>\n

While the MicroStrategy stock has plummeted 20% as the crypto market struggles with choppy conditions. Despite falling from highs of $180 in mid-July to currently around $131, MSTR remains more than 92% up year-to-date.<\/span><\/p>\n

MicroStrategy, as well as top crypto related companies such as Coinbase, are largely bullish amid growth and projections for Bitcoin. For Michael Saylor-led MicroStrategy, part of the success has come after adopting the strategy of adding BTC to its balance sheet.<\/span><\/p>\n

MSTR has soared alongside Bitcoin since MicroStrategy first bought BTC in 2020, the latest surge<\/a> coming amid Bitcoin\u2019s push to reclaim $60k.<\/p>\n

Saylor said in a recent post on X that MSTR has outperformed 499 of the 500 stocks in the S&P 500.<\/span><\/p>\n

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Four years ago today, MicroStrategy adopted #Bitcoin<\/a> as its primary treasury reserve asset; since then $MSTR<\/a> has outperformed 499 of 500 stocks in the S&P 500. pic.twitter.com\/Db7GVeyc9a<\/a><\/p>\n

\u2014 Michael Saylor\u26a1\ufe0f (@saylor) August 11, 2024<\/a><\/p>\n<\/blockquote>\n

The company acquired an additional 12,222 BTC in Q2, 2024, adding more than $805 million in BTC to its haul. Currently, MicroStrategy holds 226,500 BTC worth over $13 billion.<\/span><\/p>\n

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