$330 Million Bet: US States Load Up on Strategy Stock

Crypto News

$330 Million Bet: US States Load Up on Strategy Stock for Bitcoin Exposure

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 17, 2025

Key Takeaways

12 US states hold a combined $330 million in Strategy stock through pension funds and treasuries;
California leads with the largest stake, followed by Florida, Wisconsin, and North Carolina;
Strategy’s massive Bitcoin holdings make its stock an indirect way for states to gain crypto exposure.

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$330 Million Bet: US States Load Up on Strategy Stock for Bitcoin Exposure

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Pension funds and state treasuries across 12 US states collectively held $330 million in shares of Strategy, formerly known as MicroStrategy, as of late 2024.

Among them, California, Florida, Wisconsin, and North Carolina had the largest investments, according to a February 17 post on X by Bitcoin BTC $92,436.71 analyst Julian Fahrer.

Teacher retirement fund in California held the largest stake, with 285,785 shares valued at around $83 million, based on a February 14 filing with the US Securities and Exchange Commission (SEC). The fund, which manages $69 billion across various stocks, also invested in Coinbase $1.48B , holding 306,215 shares worth $76 million.

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California’s public employee retirement fund also held large shares in Strategy, with 264,713 shares valued at approximately $76 million. It had an even larger Coinbase investment, with shares worth $79 million. Overall, the fund manages about $149 billion in investments.

New Jersey’s pension funds, which serve police officers and firefighters, held a combined $26 million in Strategy stock. Additionally, Florida’s retirement system owned 160,470 shares worth about $46 million.

Meanwhile, Wisconsin’s investment board held 100,957 shares valued at roughly $29 million. North Carolina’s state treasury reported a $22 million investment in the company.

Strategy is the largest corporate holder of Bitcoin, owning 478,740 BTC, worth around $46 billion at current market prices.

Recently, Strategy reported a $670.8 million net loss but continued expanding its Bitcoin holdings. How much BTC did the company hold as of Q4 2024? Read the full story.