- Ah, the U.S. state pension funds, clutching $330 million in Strategy shares, a true testament to institutional Bitcoin fascination!
- MicroStrategy, now whimsically dubbed “Strategy,” has amassed a staggering 471,107 BTC, as if collecting stamps!
In the grand theater of cryptocurrency, Michael Saylor’s Strategy, once known as MicroStrategy, has been the leading actor, stealing the spotlight with its relentless Bitcoin accumulation strategy. 🎭
And lo! The company has once again stirred the pot, as whispers of multiple U.S. states pouring their riches into its stock have reached our ears. 🤑
As of the late 2024 curtain call, U.S. state pension funds and treasuries have collectively embraced $330 million worth of Strategy shares, a clear sign of institutional confidence that could make even the most stoic investor chuckle. 😂
12 U.S. states stake in Saylor’s Strategy
Bitcoin analyst Julian Fahrer, with the flair of a seasoned bard, has noted that California, Florida, Wisconsin, and North Carolina are leading the charge, further igniting discussions about the company’s growing influence in the crypto and financial realms. 🔥
He proclaimed,
“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. A veritable treasure trove! 💰
This fund, which manages a staggering $69 billion in stock investments, also boasts a hefty 306,215 shares of Coinbase, worth $76 million. Talk about a diversified portfolio! 📈
What’s more?
In a similar vein, the California Public Employees’ Retirement System has invested in 264,713 shares of Strategy, worth $76 million, alongside a delightful $79 million in Coinbase stock. 🍾
These investments are a clear indication of the growing institutional interest in Bitcoin exposure via Strategy, which proudly holds the title of the world’s largest corporate Bitcoin hoarder with 478,740 BTC valued at around $46 billion. 🏆
Other states have joined the fray, 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. A veritable buffet of investments! 🍽️
Strategy’s Bitcoin strides
That being said, Strategy’s relentless Bitcoin acquisitions, like the recent purchase of 7,633 BTC in February 2024, further solidify its position as a dominant player in this whimsical market. 🎢
Moreover, MicroStrategy’s cheeky rebranding as “Strategy” ahead of its Q4 earnings report underscores its commitment to Bitcoin, now positioning itself as the first “Bitcoin Treasury Company.” A title worthy of a grand ball! 💃
With a staggering 471,107 BTC in its holdings, including 194,180 acquired in Q4 alone, the company has cemented its status 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. Oh, the irony! 😅
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. A small victory in the grand scheme of things! 🎉
In contrast, Bitcoin experienced a slight decline of 1.47%, trading at $96,237.28. The market, it seems, is as fickle as a cat on a hot tin roof! 🐱👤
So, while the market sentiment for Bitcoin remains volatile, the bullish moves from Strategy reflect growing institutional adoption. A curious dance indeed! 💃
Despite
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2025-02-17 21:17