South Korea’s pension fund purchased 24,500 shares of the Michael Saylor-led company, before the 10:1 stock split.
The MicroStrategy purchase can be viewed as indirect financial investment in bitcoin (BTC).
South Korean pension fund, National Pension Service (NPS), purchased MicroStrategy (MSTR) shares worth almost $34 million in the 2nd quarter of this year, according to a filing revealed previously today.
The fund divulged that it acquired 24,500 shares at a typical cost of $1,377.48, before MicroStrategy revealed a 10-for-1 stock split in the start of this months. This brings the overall variety of shares to 245,000, valued at $32.32 million, based upon MicroStrategy’s last close of $131.93.
The purchase by NPS can be viewed as an indirect financial investment in bitcoin (BTC) as MicroStrategy is the biggest business holder of the token.
Previously this month, Wall Street broker Benchmark raised its cost target on the Michael Saylor-led company to $2,150 from $1,875. Criteria raised the rate target regardless of MicroStrategy missing its income target for Q2.
NPS likewise holds 229,807 shares of Coinbase (COIN), worth over $45 million, based upon Coinbase’s last close of $197.12. The fund began purchasing shares in the crypto exchange in 2023, purchasing 282,673 shares at a typical rate of $70.5.
Modified by Parikshit Mishra.
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