Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/south-koreas-nps-invests-in-microstrategy" data-wpel-link="internal" rel="noopener noreferrer nofollow">South Korea’s NPS Invests in MicroStrategy</a><br></p>
<p style="text-align: justify">South Korea’s National Pension Fund (NPS) has made a significant investment by purchasing MicroStrategy shares valued at $34 million during the second quarter of 2024. This strategic decision is seen as an indirect method of investing in <a href="https://en.bitcoinhaber.net/bitcoin-faces-a-definitive-rejection-the-struggle-for-a-daily-close" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, given MicroStrategy’s substantial Bitcoin holdings. Additionally, NPS holds over $45 million worth of Coinbase shares, underscoring its growing interest in cryptocurrency assets.</p>
<h2 id="microstrategy-investment-an-indirect-bitcoin-bet">MicroStrategy Investment: An Indirect Bitcoin Bet?</h2>
<p style="text-align: justify">The NPS’s acquisition of 24,500 MicroStrategy shares, managed by Michael Saylor, occurred just before the company executed a 10:1 stock split. The average purchase price for these shares was reported at $1,377.48. Following the split, MicroStrategy’s total shares increased to 245,000, with a combined value of $32.32 million based on the last closing price of $131.93.</p>
<p style="text-align: justify">This move is largely interpreted as an indirect investment in Bitcoin due to MicroStrategy’s status as one of the largest institutional Bitcoin <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>. NPS’s strategy signals a growing interest in cryptocurrency, as investing in MicroStrategy shares indirectly exposes the fund to Bitcoin’s performance.</p>
<h2 id="benchmark-s-insights-and-coinbase-shares">Benchmark’s Insights and Coinbase Shares</h2>
<p style="text-align: justify">Benchmark, a leading Wall Street brokerage, has been closely monitoring MicroStrategy’s performance. Despite missing second-quarter revenue expectations, the firm elevated its price target for MicroStrategy’s stock from $1,875 to $2,150. This adjustment reflects confidence in the company’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> prospects.</p>
<p style="text-align: justify">Moreover, NPS has been actively investing in Coinbase since 2023. The fund currently holds 229,807 shares of Coinbase, originally acquired at an average price of $70.5 per share. As of now, these shares are valued at over $45 million, based on Coinbase’s recent closing price of $197.12.</p>
<h2 id="key-investment-takeaways">Key Investment Takeaways</h2>
<p style="text-align: justify">• NPS’s investment in MicroStrategy serves as an indirect Bitcoin investment.<br> • The 10:1 stock split of MicroStrategy has increased its total share count.<br> • Benchmark has raised its price target for MicroStrategy, indicating positive future expectations.<br> • NPS’s significant holdings in Coinbase highlight its broader strategy in the cryptocurrency sector.</p>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">NPS’s substantial investments in MicroStrategy and Coinbase underline its strategic foray into the world of cryptocurrency. These moves reflect a calculated approach to gaining exposure to Bitcoin and other digital assets indirectly. The fund’s actions suggest a growing institutional confidence in the potential of the cryptocurrency market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/south-koreas-nps-invests-in-microstrategy" data-wpel-link="internal" rel="noopener noreferrer nofollow">South Korea’s NPS Invests in MicroStrategy</a></h5>

South Korea’s NPS Invests in MicroStrategy

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