South Korean Pension Fund Invests Heavily In MicroStrategy And Coinbase
Portfolio Pulse from Murtuza Merchant
South Korea's National Pension Service (NPS) has made significant investments in MicroStrategy (NASDAQ:MSTR) and Coinbase (NASDAQ:COIN). NPS acquired 24,500 shares of MicroStrategy, now valued at approximately $32.32 million after a 10-for-1 stock split, and 229,807 shares of Coinbase, valued at over $45 million. These investments highlight the growing importance of digital assets in institutional portfolios.
August 16, 2024 | 11:49 am
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NPS holds 229,807 shares of Coinbase, valued at over $45 million. The pension fund began building its position in Coinbase in 2023, initially purchasing shares at an average price of $70.5 per share.
NPS's significant investment in Coinbase reflects growing institutional interest in digital assets, likely providing a positive short-term impact on Coinbase's stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
South Korea's National Pension Service (NPS) invested nearly $34 million in MicroStrategy, now valued at approximately $32.32 million after a 10-for-1 stock split. Benchmark revised its price target for MicroStrategy to $2,150, up from $1,875.
The substantial investment by NPS and the revised price target by Benchmark indicate strong market confidence in MicroStrategy's long-term strategy and its Bitcoin holdings, likely boosting short-term stock prices.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100