A significant trend has emerged as twelve U.S. states collectively hold a $330 million stake in Strategy, the rebranded entity formerly known as MicroStrategy. This investment is primarily through state pension funds and treasuries, reflecting a growing interest in the business intelligence firm that has positioned itself as a major player in the Bitcoin market.
State Investments in Strategy
States such as California, Florida, Wisconsin, and North Carolina have the most substantial exposure to Strategy, indicating a strategic pivot towards cryptocurrency-related assets. California leads with its State Teachers Retirement System, which holds the largest stake in Strategy, amounting to 285,785 shares valued at approximately $83 million.
This fund manages a total of $69 billion in various investments and also has a significant position in Coinbase, with 306,215 shares worth $76 million. Additionally, the California Public Employees’ Retirement System has invested heavily in Strategy, holding 264,713 shares valued at around $76 million, alongside $79 million in Coinbase stock.
Notable Holdings by Other States
The State Board of Administration of Florida Retirement System has made notable investments, holding 160,470 shares of Strategy worth $46 million. Meanwhile, the State of Wisconsin Investment Board has acquired 100,957 shares, valued at approximately $29 million.
These investments highlight a broader trend among state pension funds to diversify their portfolios by including assets linked to the burgeoning cryptocurrency market. North Carolina’s Treasurer has allocated $22 million in Strategy stock, while New Jersey’s Police and Firemen’s Retirement System and Common Pension Fund collectively hold $26 million in shares.
Widespread Interest in Strategy
Other states, including Arizona, Colorado, Illinois, Louisiana, Maryland, Texas, and Utah, have also reported holdings in Strategy, indicating widespread interest in the firm’s stock as a means of gaining exposure to Bitcoin. Strategy is recognized as the world’s largest corporate holder of Bitcoin, with a staggering 478,740 coins valued at around $46 billion at current market prices.
This substantial Bitcoin reserve provides a unique opportunity for investors to gain exposure to the cryptocurrency indirectly through the company’s stock. The firm’s recent acquisition of 7,633 BTC at a price of $97,255 per coin between February 3 and February 9 further solidifies its commitment to Bitcoin as a core asset.
Performance and Market Trends
The performance of Strategy’s stock has been impressive, gaining 16.5% since the beginning of 2025 and a remarkable 383% since the same time in 2024. This outperformance is particularly notable when compared to the broader cryptocurrency market, which has seen a 62% increase over the past year.
Such figures suggest that investors are increasingly viewing Strategy as a viable vehicle for capitalizing on the growth of Bitcoin and the digital asset space. The trend of state pension funds investing in cryptocurrency-related assets reflects a significant shift in investment strategies among institutional investors.
Implications for the Financial Landscape
As traditional financial institutions and government entities begin to recognize the potential of digital assets, the landscape of investment is evolving. The rebranding of MicroStrategy to Strategy, along with its Bitcoin-themed marketing approach, signals a clear intent to align the company’s identity with the growing interest in cryptocurrency.
This strategic pivot is not just limited to individual states; it represents a broader movement within the financial sector to embrace innovative technologies and investment opportunities. As more states allocate funds to cryptocurrency-related investments, the implications for the market could be profound, potentially leading to increased legitimacy and acceptance of digital assets in mainstream finance.
The growing involvement of state pension funds in cryptocurrency investments may also pave the way for more regulatory clarity and institutional adoption. As these funds continue to explore the potential of Bitcoin and other digital assets, the financial landscape may witness a transformation that could redefine investment paradigms for years to come.
📎 Related coverage from: cointelegraph.com
