US States Invest $330M Public Funds in MicroStrategy: Reports
Indications of a growing interest in Bitcoin exposure may be seen in the substantial purchases of Strategy shares, previously known as MicroStrategy, by public state funds across the U.S.
Based on recently published Q4 2024 reports submitted to the Securities and Exchange Commission (SEC), data compiled by Julian Fahrer, a builder focused on Bitcoin, indicates that at least 12 public state funds in the United States, encompassing pension and treasury funds, have declared holdings in Strategy shares.
The states involved are Arizona, California, Colorado, Florida, Illinois, Louisiana, Maryland, North Carolina, New Jersey, Texas, Utah, and Wisconsin. Collectively, these entities possess Strategy shares valued at $330.5 million. The company has positioned itself as a Bitcoin treasury firm due to its active accumulation of the primary digital currency.
Strategy holdings among US state public funds Julian Fahrer
Leading the way in Strategy share ownership are California’s State Teacher’s Retirement System and Public Employees Retirement Association, holding $82.8 million and $76.7 million respectively. Following behind in third place is Florida’s State Board of Administration Retirement System, with $46.4 million invested in shares of this Bitcoin-linked company.
The disclosed investment in Strategy by these public funds is linked to the company’s intensified Bitcoin treasury approach during the last quarter. Strategy reportedly increased its holdings of the digital currency on a near-weekly basis throughout that period. This accumulation has resulted in the company now possessing approximately 479,000 BTC, valued at over $46 billion at the time of this report.
This data also suggests a rising inclination among U.S. states towards gaining Bitcoin exposure. Around 18 states are currently pursuing measures to permit direct investments in Bitcoin through proposed strategic Bitcoin reserve legislation. Examples of these states include Florida, Maryland, Texas, and Utah, among others.
Recent findings from VanEck indicated that should this legislation be enacted, U.S. states could potentially invest up to $23 billion in the primary digital currency.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
