A recent report reveals that 12 US states collectively hold $330 million worth of Strategy (formerly MicroStrategy) stock in their state pension funds and treasuries. Bitcoin analyst Julian Fahrer highlighted this trend on Feb. 17, indicating growing institutional interest in the company led by Michael Saylor.
California Holds the Largest Stake
California leads the pack with over $150 million in Strategy stock investments through its state retirement funds. The California State Teachers’ Retirement System (CalSTRS) alone holds 285,785 shares worth $83 million, while the California Public Employees’ Retirement System (CalPERS) owns 264,713 shares valued at $76 million.
Both funds also have significant exposure to Coinbase (COIN), with holdings of 306,215 shares ($76 million) in CalSTRS and $79 million in Coinbase stock for CalPERS.
Other States Betting Big on Strategy
In addition to California, pension funds and treasuries in Florida, Wisconsin, and North Carolina have also invested heavily in Strategy stock, further reinforcing institutional confidence in the company.
Why Are Pension Funds Investing in Strategy?
Strategy is widely recognized as the largest corporate holder of Bitcoin, currently owning 478,740 BTC worth approximately $46 billion at today’s prices. Many investors view holding Strategy stock as an indirect way to gain exposure to Bitcoin’s price movements.
The company’s latest Bitcoin acquisition took place between Feb. 3 and Feb. 9, when it purchased 7,633 BTC at an average price of $97,255 per coin.
Will This Trend Continue?
With Bitcoin’s adoption growing and institutional interest in Strategy increasing, more states could follow suit in adding the stock to their portfolios. As Bitcoin ETFs continue to gain traction, the relationship between Strategy’s stock price and BTC is likely to remain strong.
