12 US States Quietly Pour $330 Million Into Strategy Stock! Bet on Bitcoin!
12 US States Quietly Pour $330 Million Into Strategy Stocks – Is There A Bitcoin “Gamble”?
A new report reveals that 12 US states hold a total of $330 million in Strategy (formerly MicroStrategy) shares through state pension funds and budgets.
Notably, California leads the way with over $150 million in investments , according to Bitcoin analyst Julian Fahrer .
California Pours Big Money Into Stock Strategy
According to data released at the end of 2024, the California State Teachers' Retirement Fund owned 285,785 shares of Strategy , worth about $83 million at the time of filing a report with the SEC (US Securities and Exchange Commission) on February 14 .
In addition, the California Public Employees' Retirement System , a pension fund for state employees, also holds 264,713 Strategy shares worth $76 million . At the same time, the fund also holds $79 million in Coinbase (COIN) shares .
California's total investment in these assets amounts to $149 billion , indicating significant interest in crypto.
Bitcoin Betting Strategies of US States
Not only California, states like Florida, Wisconsin, North Carolina also invest heavily in Strategy.
Florida Retirement System holds 160,470 shares , worth $46 million .
Wisconsin Investment Board owns 100,957 shares , worth $29 million .
North Carolina also has $22 million in Strategy shares , while New Jersey holds $26 million through its police and fire pension fund.
Other states such as Arizona, Colorado, Illinois, Louisiana, Maryland, Texas and Utah also have investments in Strategy.
Why Are US States Pouring Money Into Strategy?
Strategy is now the world's largest Bitcoin holder , with 478,740 BTC , worth $46 billion at current prices. Buying Strategy shares is seen as an indirect way to gain exposure to Bitcoin without buying the digital asset directly.
The company also purchased an additional 7,633 BTC from February 3 to February 9 at an average price of $97,255/BTC .
MSTR stock is up 16.5% year-to-date and up 383% over the past year , far outpacing the crypto market's 62% gain .