The post South Korea National Pension Scheme Buys 245,000 MicroStrategy (MSTR) Stocks appeared on BitcoinEthereumNews.com.

As per the latest 13F filing submitted to the U.S. Securities and Exchange Commission, South Korea’s National Pension Scheme disclosed purchasing 245,000 MicroStrategy (MSTR) stocks during the second quarter. The MSTR stock price is up 92% year to date but most of the gains came in the first quarter this year. South Korea NPS Buys MicroStrategy Shares The total investment value of South Korea’s National Pension Scheme in acquiring MicroStrategy (MSTR) stocks stands at 46 billion won or $33.7 million. This accounts for 0.04% of NPS’s direct investment portfolio in the US stocks. This is not the first time South Korea NPS has sought exposure to public-listed crypto stocks in the US. During the third quarter of 2023, the NPS acquired a massive 282,673 shares of Coinbase (COIN) stock, while beginning its direct investment in the crypto industry. By then, the COIN share price was trading at $78 which has now surged by 3x to $222 by the end of the second quarter. As we know, MicroStrategy is the largest single corporate holder of Bitcoins and currently holds more than 1% of the total Bitcoin supply in the market. In another development, the U.S. SEC approved a leveraged Microstrategy ETF MSTX issued by Defiance and will deliver 175% of MicroStrategy’s daily stock return. Interestingly, this business intelligence firm is turning out to be a proxy play for investors to bet on the Bitcoin price. MSTX will provide a unique opportunity for investors willing to maximize their leverage exposure to the Bitcoin market. through a regulated ETF instrument. State Players Seeking Exposure to Bitcoin The launch of the spot Bitcoin ETFs in the market has provided a regulated way of gaining exposure to the largest crypto asset class. As a result, several US states gained exposure to this Bitcoin instrument during…

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Filed under: News - @ August 16, 2024 4:10 am