$700 Billion Fund Indirectly Invests in Bitcoin

South Korea’s National Pension Services (NPS), the world’s third-largest pension fund by assets, purchased $33.7 million worth of MicroStrategy (MSTR) shares in the second quarter of this year.

According to a report filed this week with the U.S. Securities and Exchange Commission (SEC), NPS, which has more than $700 billion in assets under management, purchased 24,500 MicroStrategy Inc. shares in the second quarter.

The move indirectly increases South Korea’s National Pension Services’ exposure to Bitcoin (BTC). NPS also purchased 282,673 Coinbase (COIN) shares worth $19.9 million in the third quarter of last year.

According to NPS’s latest disclosures, the fund purchased approximately 229,807 Coinbase Global Inc. shares worth $51 million as of the end of June. shares. In comparison, it owned 253,763 Coinbase shares in March.

One of the largest Bitcoin investors

MicroStrategy is known as the institutional company with the largest amount of Bitcoin, with 226,500 Bitcoins on its balance sheet, worth approximately $13.2 billion.

The company, which has been investing in Bitcoin since 2020 and recognizes it as a reserve asset, is seen as an indirect way to gain exposure to Bitcoin in traditional markets.

The U.S. Securities and Exchange Commission (SEC) approved the first leveraged exchange-traded fund focused on MicroStrategy this week.

MicroStrategy shares have gained 92 percent so far this year, while Coinbase shares have increased 25 percent since the beginning of the year.

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