South Korea's National Pension Service Invests $32M in MicroStrategy Amid Bitcoin Optimism

The National Pension Service of South Korea has made a significant investment in MicroStrategy (MSTR). They now own over $32 million worth of shares in this Bitcoin-friendly company.

As of June 30th, the Pension Service, which manages about $764.8 billion in assets, has acquired 24,500 shares of MSTR. This information comes from a recent securities filing.

In July, MicroStrategy announced a 10-for-1 stock split. This move aims to make their stock more accessible to investors and employees. Now, the National Pension Service holds 245,000 shares of MSTR, valued at around $32.5 million.

But that’s not all. The Pension Service also invested in Coinbase (COIN) last year. They bought 282,670 shares of the crypto exchange by December 31, 2024. This year, they have gradually reduced their COIN holdings. Currently, they own 229,807 shares worth about $47.18 million.

MicroStrategy stands out as the largest corporate holder of Bitcoin globally. They currently hold 226,500 BTC, valued at over $13.38 billion. The average purchase price for their Bitcoin is $36,798, according to their quarterly report.

MicroStrategy’s CEO, Phong Le, expressed optimism about Bitcoin adoption. He noted the growing understanding and support for Bitcoin from politicians and institutions, which was evident at the Bitcoin 2024 Conference in Nashville.

As of now, Bitcoin is trading at $59,199. That’s an increase of over 3% in the last 24 hours.