The Korean Investment Corporation (KIC), one of the two major 'big hands' in Korea, has confirmed that it has invested in Bitcoin-related stocks. According to a report by the Herald Economy, KIC told the National Assembly that its investment was "not for the purpose of virtual asset investment." KIC named Coinbase, the largest virtual asset exchange in the US, and MicroStrategy (MSTR) as companies that hold large amounts of Bitcoin. KIC explained that its investment in these companies was "not for the purpose of virtual asset investment, but the result of buying due to index tracking." Coinbase was included in the 'MSCI ACWI ex Korea Unhedged' benchmark index in December 2021, and MSTR was included in June of this year. KIC is operating at a scale similar to the benchmark weight.

#BTC