The post South Korea’s NPS Buys $34M Worth MicroStrategy shares appeared on BitcoinEthereumNews.com.

The world’s third-largest public pension fund has just bought about $34 million in shares of MicroStrategy. The National Pension Service is South Korea’s public pension fund and the country’s largest investor, with total assets exceeding 1 trillion won ($777 billion) at the end of February 2024. NPS buys a stake in MicroStrategy According to a filing with the United States Securities and Exchange Commission on August 13, NPS paid $33.75 million for 24,500 MicroStrategy shares, bringing the total number of shares to 245,000. Based on MicroStrategy’s last closing price of $131.93, the shares were valued at $32.32 million. NPS’s purchase can be termed an indirect investment in Bitcoin (BTC), as MicroStrategy is the largest corporate holder of the token. The filing, which discloses its investments in the second quarter of the year, shows that it still owns more than $51 million in Coinbase, with 229,807 shares of the crypto exchange. The fund began purchasing shares in the crypto exchange in 2023 at an average price of $70.5. NPS also has $31.5 million invested in Roblox and $61.5 million in Jack Dorsey’s Block. According to recent data, MicroStrategy is the public company with the most Bitcoin. It holds around 13 times more than Marathon Digital, the world’s largest Bitcoin miner. The firm owns around 226,500 BTC, which is worth approximately $13.19 billion. According to Google Finance, MicroStrategy stock saw double-digit spikes in 2024, climbing above $150 for the first time in over 24 years. Right now, MSTR is worth $131.93, up 1.56% in the last 24 hours. Also Read: Jump Trading Once Again Sells 17,049 Ethereum Worth $46.44M Source: https://www.cryptonewsz.com/south-koreas-nps-buys-34m-worth-of-mstr-shares/

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Filed under: News - @ August 16, 2024 3:24 pm