As a seasoned researcher with a keen eye for market trends and a knack for spotting significant moves by institutional investors, I find it fascinating to witness the growing interest of state players like South Korea’s National Pension Scheme and US states in Bitcoin-related stocks and ETFs.
Based on a recent 13F filing with the U.S. Securities and Exchange Commission, it’s been revealed that South Korea’s National Pension Fund acquired approximately 245,000 shares of MicroStrategy (MSTR) during the second quarter. The price of MSTR stocks has risen by 92% so far this year, with the majority of those gains occurring in the first three months of 2021.
South Korea NPS Buys MicroStrategy Shares
In simple terms, South Korea’s National Pension Scheme has invested approximately 46 billion Korean won, which is equivalent to around $33.7 million, in purchasing MicroStrategy (MSTR) shares. This investment constitutes just a tiny fraction, about 0.04%, of the scheme’s direct portfolio of US stocks.
On several occasions, South Korea’s National Pension Service (NPS) has expressed interest in investing in publicly-traded cryptocurrency stocks based in the U.S., and this is not an exception. In the third quarter of 2023, NPS made a significant purchase of 282,673 shares of Coinbase (COIN), marking its entry into direct crypto investments. At that time, the COIN share price stood at $78, but by the end of the second quarter, it had skyrocketed to an impressive $222, nearly tripling in value.
As someone who has closely followed the cryptocurrency market over the past few years, I find it fascinating to see MicroStrategy emerging as a key player in this space. Given my personal experience with investing and understanding of the crypto world, it seems that MicroStrategy’s aggressive Bitcoin acquisition strategy is not only bold but also strategic. The company’s decision to hold such a large portion of the total Bitcoin supply positions them uniquely among other corporations, making them a significant player in the market.
MSTX offers a distinctive chance for investors seeking high returns tied to the Bitcoin market, as they can do so with a regulated Exchange Traded Fund (ETF).
State Players Seeking Exposure to Bitcoin
The introduction of Bitcoin ETFs in the market offers a controlled method for investors to access the largest category of cryptocurrencies. Consequently, various U.S. states have gained access to this Bitcoin investment during the second quarter of this year. Just one day prior, the Wisconsin Investment Board (SWIB) disclosed significant investments in BlackRock’s Bitcoin ETF, IBIT. Since the launch of the ETF, SWIB has consistently purchased Bitcoin ETFs for two consecutive quarters.
In the previous month, it was revealed that the Michigan State Retirement System made an investment of $6.6 million in the ARK 21Shares Bitcoin ETF (ARKB). Much like this, Mayor Steven Fulop of Jersey City has expressed plans to invest in bitcoin through ETFs.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- USD COP PREDICTION
- TON PREDICTION. TON cryptocurrency
- Strongest Magic Types In Fairy Tail
- ENA PREDICTION. ENA cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- GLMR PREDICTION. GLMR cryptocurrency
2024-08-16 07:23