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State pension funds and treasuries from twelve U.S. states had invested a significant $330 million in Bitcoin, though indirectly, by purchasing shares of Strategy (formerly MicroStrategy), the leading corporate Bitcoin holder. Bitcoin analyst Julian Fahrer highlights California, Florida, Wisconsin, and North Carolina as the states with the largest investments in Strategy.
The Teacher Retirement Fund of California, one of the largest pension funds in the U.S., holds 285,785 shares of Strategy, valued at approximately $83 million, as of February 14. Additionally, the Public Employees’ Retirement System of California possesses 264,713 shares, worth around $76 million. California’s investment portfolio, which exceeds $69 billion, includes significant positions in Coinbase and other funds that support Strategy’s Bitcoin holdings.
🇺🇸 Big Strategy update:
— Julian Fahrer (@Julian__Fahrer) February 16, 2025
12 US states reported public $MSTR holdings in Q1 (pension funds or Treasury) totaling $330m. pic.twitter.com/QYXGMktNTZ
By investing in Strategy stock, these state pension funds gain exposure to Bitcoin without directly purchasing the cryptocurrency. This approach has allowed these funds to tap into Bitcoin’s growth while maintaining a traditional asset strategy. Strategy itself, under CEO Michael Saylor, owns a staggering 478,740 BTC, valued at around $46 billion, making it the largest corporate holder of Bitcoin globally.
In February 2024, Strategy made a notable acquisition of 7,633 Bitcoin units between February 3 and 9, at a cost of $97,255 per coin, further expanding its Bitcoin holdings.
The investment in Strategy stock has paid off handsomely for these state pension funds. Since the beginning of 2025, Strategy’s stock price has risen by 16.5%, outpacing the 62% growth of the overall cryptocurrency market during the same period. From February 2024 to now, Strategy’s stock price has surged by an impressive 383%, highlighting the company’s successful strategy of acquiring Bitcoin as a core part of its business model.
Also Read: MicroStrategy, Now ” Strategy” , Reports Record BTC Holdings in Q4 2024 Earnings, Reports $670M Loss
As more state pension funds continue to explore indirect Bitcoin exposure, Strategy’s growing influence in the market presents a key entry point for institutional investors seeking exposure to the cryptocurrency space.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Crypto and blockchain enthusiast.
