The National Pension Service (NPS) of South Korea has made a substantial investment in the digital assets space by purchasing nearly $34 million worth of MicroStrategy (MSTR) shares during the second quarter of 2024.
As detailed in its latest filing with the US Securities and Exchange Commission (SEC), NPS acquired 24,500 shares of MicroStrategy at an average price of $1,377.48 each on August 13. This investment reflects NPS’s growing interest in digital assets, given MicroStrategy’s significant pivot toward Bitcoin investments.
MicroStrategy, which was initially known for its business analytics software, has become a major player in the Bitcoin market, largely due to CEO Michael Saylor’s strong advocacy for the cryptocurrency. Under Saylor’s leadership, the company has emerged as the largest corporate Bitcoin holder. In 2024, MicroStrategy’s stock rose by 92.5%, surpassing $150 for the first time in over 24 years, according to Google Finance data. Since August 2020, the company has continued to build its Bitcoin holdings, acquiring an additional 12,222 Bitcoin for $805 million in the second quarter of this year.
The filing also reveals that the NPS, which is the world’s third-largest pension fund by assets with over $800 billion, holds 229,807 shares of Coinbase valued at over $51 million. Additionally, NPS has investments of $31.5 million in Roblox and $61.5 million in Jack Dorsey’s Block. This diversification highlights NPS’s broader strategy to engage with high-growth sectors, including digital finance and technology.