- U.S. state pension funds hold $330 million in Strategy shares, highlighting institutional Bitcoin interest.
- MicroStrategy’s rebranding as “Strategy” solidified its dominance, with 471,107 BTC in holdings.
Michael Saylor’s Strategy, formerly known as MicroStrategy, has remained a dominant force in crypto headlines for a long time, largely due to its aggressive Bitcoin [BTC] accumulation strategy.
Recently, the company made waves once again as reports revealed that multiple U.S. states have invested heavily in its stock.
As of late 2024, U.S. state pension funds and treasuries collectively hold $330 million worth of Strategy shares, underscoring growing institutional confidence.
12 U.S. states stake in Saylor’s Strategy
Highlighting this further, Bitcoin analyst Julian Fahrer noted that California, Florida, Wisconsin, and North Carolina have the largest exposure, further fueling discussions about the company’s evolving influence in the crypto and financial sectors.
He said,
“Big Strategy update: 12 US states reported public $MSTR holdings in Q1 (pension funds or Treasury) totaling $330m.”
As of the 14th of February, California’s State Teachers Retirement System fund holds the largest stake, with 285,785 shares valued at approximately $83 million.
The fund, which manages $69 billion in stock investments, also owns a substantial 306,215 shares of Coinbase, worth $76 million.
What’s more?
Similarly, the California Public Employees’ Retirement System has invested in 264,713 shares of Strategy, worth $76 million, along with $79 million in Coinbase stock.
These investments showcase the growing institutional interest in Bitcoin exposure via Strategy, which remains the world’s largest corporate holder of the cryptocurrency with 478,740 BTC valued at around $46 billion.
Other states have followed suit, with notable investments from the Florida, Wisconsin, and North Carolina retirement funds.
The Florida Retirement System holds 160,470 shares of Strategy, valued at $46 million, while the Wisconsin Investment Board has $29 million in the company’s stock.
Additionally, North Carolina’s Treasurer holds $22 million worth of Strategy shares.
Strategy’s Bitcoin strides
That being said, Strategy’s consistent Bitcoin acquisitions, like the recent purchase of 7,633 BTC in February 2024, further strengthen its position as a dominant player in the market.
Moreover, MicroStrategy’s rebranding as “Strategy” ahead of its Q4 earnings report underscores its commitment to Bitcoin, now positioning itself as the first “Bitcoin Treasury Company.”
With a staggering 471,107 BTC in its holdings, including 194,180 acquired in Q4 alone, the company has solidified its position as a major Bitcoin player.
However, despite a 74.3% yield on its Bitcoin holdings for 2024, Strategy faced rising expenses, particularly a $1.006 billion loss on digital assets, leading to a net loss of $670.8 million for the quarter.
MSTR and Bitcoin price trend
These developments have certainly influenced the price of Strategy’s stock, which saw a 3.04% increase, reaching $337.73 as per Google Finance.
In contrast, Bitcoin experienced a slight decline of 1.47%, trading at $96,237.28.
So, while the market sentiment for Bitcoin remains volatile, the bullish moves from Strategy reflect growing institutional adoption.
Despite short-term losses, the company’s aggressive Bitcoin acquisition strategy and rebranding may continue to make it an influential force in the crypto market in the coming years.
