Sign Up on MEXCSouth Korea National Pension Scheme Snaps 245,000 MicroStrategy (MSTR) Stocks
Highlights
- South Korea NPS is already sitting on 3x gains on its Coinbase investment last year in Q2 2023.
- The leveraged MicroStrategy ETF MSTX approved by the SEC offering 1.75x exposure to MSTR stock price.
- US State Investment boards continue to increase BTC exposure via spot Bitcoin ETFs.
On Thursday, South Korea’s National Pension Scheme submitted its 13F filings to the U.S. Securities and Exchange Commission (SEC) revealing the purchase of 245,000 MicroStrategy (MSTR) stocks during the second quarter. The MSTR stock price has already gained 92% since the beginning of 2024 with most of the gains coming in the first quarter.
South Korea National Pension Scheme Buys MicroStrategy MSTR Stocks
The total investment value of South Korea’s National Pension Scheme in acquiring 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. The question is whether South Korean NPS eyeing a similar rally with the MSTR stock?
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 the second quarter of this year. A day before, the State of Wisconsin Investment Board (SWIB) announced major exposure to the BlackRock Bitcoin ETF. SWIB has been purchasing Bitcoin ETFs for two consecutive quarters since the ETF launch.
Last month, the State of Michigan Retirement System also disclosed a $6.6 million investment in ARK 21Shares Bitcoin ETF (ARKB). Similarly, Jersey City Mayor Steven Fulop has shared the intention to make bitcoin investments via ETFs.
- Bitcoin Will 200x From Here, Twenty One Capital CEO Says as BTC Breaks $117K After Fed Rate Cut
- BNB Chain Takes Lead in RWA Tokenization, Expert Sees BNB Rally to $1,300
- Grayscale’s GDLC Fund Holding SOL and ADA Gets SEC Nod for NYSE Debut
- Crypto Market Rally: Will Bitcoin Catch Up With S&P 500 Gains After Fed Rate Cut?
- Ripple Partners DBS, Franklin Templeton To Launch Trading And Lending Backed by RLUSD
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
