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South Korea’s Public Pension Fund has invested in MicroStrategy, acquiring 245,000 shares in the company, valued at $33.75 million, during the second quarter of this year. A recent 13F filing indicated that this investment constitutes 0.04% of the fund’s total US stock portfolio.
In the third quarter of the previous year, the National Pension Service (NPS) purchased 282,673 shares of Coinbase, marking the fund’s initial investment in a digital assets firm within its US stock holdings. In the current quarter, it divested 23,956 shares, benefiting from the increased valuation.
South Korea’s National Pension Service (NPS) revealed that it acquired 245,000 shares of MicroStrategy in the second quarter of this year, valued at approximately $33.75 million. Previously, NPS had purchased 282,700 shares of Coinbase in the third quarter of the last year. NPS manages $729.77 billion…
— Wu Blockchain (@WuBlockchain) August 16, 2024
MicroStrategy, initially recognized for its business analytics software, has emerged as a significant player in Bitcoin investments. The firm’s CEO Michael Saylor, now closely linked with Bitcoin promotion, has led this transformation.
Under his guidance, MicroStrategy has become the largest corporate holder of Bitcoin. By mid-2024, the company possessed nearly 1% of all Bitcoin in circulation.
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South Korea’s NPS Expands with Digital Asset Investments, Aiming for Higher Returns
The NPS, which manages one of the largest pension funds globally, is intentionally broadening its investment horizons. It is opting to invest in digital asset firms like Coinbase to spread its risk across different investment categories. The fund aims to achieve higher returns compared to conventional investment avenues.
The NPS’ choice to invest in Coinbase during a period when its shares experienced a significant profit of around 40% in one quarter may have validated its strategy. Such outcomes could encourage further investments in companies associated with digital assets, perceiving them as opportunities for substantial growth.
South Korea Moves Forward with Digital Asset Regulations
South Korea is making strides toward more defined regulations for digital assets. This is underscored by the implementation of the Virtual Asset User Protection Act. This regulatory framework likely influenced the National Pension Service to regard digital assets as a more legitimate investment category, thereby diminishing regulatory ambiguity.
The NPS’ investment can be interpreted as a proactive step, anticipating the increasing significance of digital assets in the future.
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