U.S. Pension Funds Invest in Bitcoin Proxy: Strategy Stock Surge Sparks Interest

Twelve U.S. state pension funds have quietly invested over $330 million in Strategy, a company formerly known as MicroStrategy, through their respective treasuries and stock portfolios. Analysts point to the rising popularity of decentralized finance (DeFi) as a catalyst behind this investment surge. Notably, California, Florida, Wisconsin, and North Carolina show the highest exposure to Strategy stock, demonstrating an indirect approach to Bitcoin investment.