In a strategic move, the California State Teachers’ Retirement System (CalSTRS) has significantly ramped up its investment in Strategy’s MSTR stock, which is associated with Bitcoin. A recent report indicates that the retirement fund acquired an additional 5,191 shares in the last quarter of 2024, raising its total to 258,785 shares. This acquisition has led the value of its MSTR shares to surge by an impressive 93.5% from $42.7 million to $82.7 million.
Why is CalSTRS Betting on Bitcoin?
The company formerly known as MicroStrategy, now operating under the name Strategy, is recognized as a leading institutional player emphasizing Bitcoin investments. Throughout 2024, it adopted a robust accumulation approach, adding 7,633 Bitcoin in just February alone. This brings the company’s total Bitcoin holdings to an astonishing 478,740 BTC, valued at over $46 billion.
What About CalSTRS’ Coinbase Holdings?
Alongside the boost in MSTR shares, CalSTRS has reduced its investment in the cryptocurrency exchange Coinbase Global by 707 shares, resulting in a total of 306,215 shares owned. Despite this reduction, the rising price of Coinbase shares has seen the overall investment increase from $54.6 million to $76 million during the same quarter.
- CalSTRS now holds 258,785 shares of MSTR, a significant increase.
- The value of MSTR shares jumped 93.5% within a quarter.
- Strategy’s Bitcoin reserves have reached 478,740 BTC, valued over $46 billion.
- CalSTRS has decreased its Coinbase holdings, yet the investment value increased.
Managing roughly $352.9 billion in assets, CalSTRS stands as the second-largest public pension fund in the United States, attracting attention from both traditional financial markets and the cryptocurrency realm.
