Twelve States Invest $330 Million in Strategy, Gaining Bitcoin Exposure

State Pension Funds Invest in Strategy

Twelve states in North America have collectively invested $330 million in Strategy, formerly MicroStrategy, through their pension funds and treasury assets. This investment underscores growing institutional interest in the company, which is the largest corporate holder of Bitcoin, with 478,740 coins valued at approximately $46 billion.

Largest Investors: California and Beyond

California's State Teachers Retirement System (CalSTRS) leads with 285,785 shares of Strategy stock, worth $83 million. CalSTRS also holds a significant position in Coinbase, with 306,215 shares valued at $76 million. Additionally, the California Public Employees’ Retirement System (CalPERS) owns 264,713 shares of Strategy, worth $76 million, alongside $79 million in Coinbase stock.

Other states, including Florida, Wisconsin, North Carolina, and New Jersey, have also invested millions in Strategy. Arizona, Colorado, Illinois, Louisiana, Maryland, Texas, and Utah are among the other states with exposure to the company.

Strategy's Bitcoin Holdings and Performance

Strategy's significant Bitcoin holdings provide these state funds with indirect exposure to the cryptocurrency market. The company has recently acquired 7,633 additional Bitcoin, purchased at $97,255 per coin. Since the start of 2025, Strategy's stock has surged 16.5%, and it has gained 383% since 2024, outperforming the broader crypto market's 62% growth over the past year.

Recent Developments

Strategy recently rebranded on February 5, emphasizing its commitment to Bitcoin with a new visual marketing strategy. This move is expected to attract more institutional investors seeking exposure to digital assets.

This investment highlights the growing appeal of Bitcoin and digital assets among institutional investors, with state pension funds increasingly turning to companies like Strategy for indirect cryptocurrency exposure.