South Korea’s National Pension Service (NPS) Acquires 245,000 MicroStrategy Shares

The National Pension Service (NPS), overseeing the public pension fund in South Korea, has expanded its crypto portfolio. In the latest development making rounds, the NPS has amassed over 24,000 shares worth about $34 million from MicroStrategy. The recent transaction appeared in a filing in the U.S. Securities Exchange Commission (SEC) archives, underscoring a landmark achievement for the South Korean firm.

SEC’s Filling Outlines More Details

The filing presents further details on the investments of the Asian country's pension fund in the last two quarters. Per the filing, the NPS still retains a stake of about $51 million in Coinbase, following its purchase of over 220,000 shares in the exchange company.

Also striking in the NPS’ portfolio is its $31 million stake in Roblox, a renowned virtual gaming company, and a $61.5 million investment in Block Inc., owned by Jack Dorsey. Consequently, it corroborates earlier assertions about the NPS.

South Korea’s NPS Relative to Other Nations

According to a study on global pension assets by Thinking Ahead Institute, South Korea's NPS ranks as the third largest pension fund by assets. Notably, the Government Pension Investment of Japan and the Government Pension Fund of Norway take first and second place with total assets worth $1.5 trillion and $1.3 trillion, respectively.

MicroStrategy Stock Skyrockets

In the meantime, MicroStrategy stock has recorded an over 90% surge in its year-to-date price change, implying that it nearly doubled this year, according to analysis by Google Finance. Meanwhile, the company has been purchasing Bitcoin since mid-2020, with over 12,000 Bitcoins for over $800 million in August 2024 alone.

As a result of this latest purchase, MicroStrategy's total Bitcoin holdings now equal nearly 227,000 BTC, a whopping $13.2 billion at the current price of BTC. Moreover, it also places MicroStrategy as the first public company with the highest BTC holdings.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence before making any trading or investment decisions.

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