Key Points:
In the period under consideration, the NPS acquired 24,500 ( total of $33.5 million) shares of MicroStrategy Inc. This strategic investment followed the NPS‘s purchase of 282,673 Coinbase shares worth $19.9 million in the third quarter of last year. It aims to enhance its indirect exposure to Bitcoin through businesses with substantial cryptocurrency assets.
MicroStrategy is the largest corporate holder of Bitcoin, holding around 226,500 BTC worth approximately $13.2 billion. It often serves as a proxy for Bitcoin exposure in traditional markets. The investment is significant in the United States alone. Thirst leveraged exchange-traded funds to track MicroStrategy investment in Q2, further raising the company’s profile in the financial world.
Read more: First Leveraged MicroStrategy ETF Approved by SEC
According to NASDAQ, Shares of MicroStrategy are up 95% year to date, easily outperforming the broad market, as shares of Coinbase rise 25% year to date. At the end of June, the NPS held 229,807 shares in Coinbase Global Inc., worth about $51 million, compared with 253,763 shares at the end of March.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Trust Wallet, the world’s leading self-custody Web3 wallet trusted by over 140 million users, has…
Bitget and Foresight Ventures invest $30M in the TON ecosystem to boost Telegram-based projects, accelerating…
Arbitrage Scanner is currently the leader in cryptocurrency blockchain analysis and arbitrage tools. If you…
Singapore, Singapore, 18th September 2024, Chainwire
With this project taking shape, there has been an observable change, as it has been…
Rexas Finance does not only focus on common retail investors but also seeks to work…
This website uses cookies.