The post South Korea Pension Service, Which Invested in Crypto Sector by Buying Coinbase Shares, Made Another Purchase! Here Are the Details appeared on BitcoinEthereumNews.com.

South Korea’s National Pension Service (NPS), the world’s third-largest pension fund by assets, purchased $33.7 million worth of MicroStrategy shares in the second quarter of 2024. South Korea’s National Pension Fund Bought $33.7 Million in MicroStrategy Shares in Q2 NPS’s latest filing with the U.S. Securities and Exchange Commission revealed the purchase of 24,500 MicroStrategy shares as part of its broader strategy to increase indirect access to Bitcoin. This move follows NPS’s previous investment in Coinbase, where the fund purchased 282,673 shares worth $19.9 million in Q3 2023. As of June 2024, NPS owned 229,807 Coinbase shares worth approximately $51 million. The report also noted a slight decrease in Coinbase holdings compared to the 253,763 shares owned at the end of March. Known as the largest institutional holder of Bitcoin with 226,500 BTC worth approximately $13.2 billion, MicroStrategy has become a popular choice for traditional investors looking to invest in Bitcoin. The company’s vast bitcoin reserves have made its stock a proxy for bitcoin in the traditional financial market. This week, the U.S. SEC approved the first leveraged ETF focused on MicroStrategy, further cementing the company’s role as a key player in bitcoin investment. MicroStrategy shares are up 92% year-to-date, while Coinbase shares are up 25% in the same period. NPS’s growing interest in these assets underscores a strategic shift toward integrating crypto-related investments into traditional portfolios. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/south-korea-pension-service-which-invested-in-crypto-sector-by-buying-coinbase-shares-made-another-purchase-here-are-the-details/

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Filed under: News - @ August 16, 2024 9:22 am