South Korea's Pension Fund Buys $34M MicroStrategy Shares

South Korea's Pension Fund Buys $34M MicroStrategy Shares

By Novasky | DevPress | 20 Aug 2024


South korea is bullish on crypto. Almost every rally that you see on the market charts that is triggered by the South Korean investors. And the same has been done by govt these days. They have now invested into the bitcoin. And their pension fund is making use of the Microstrategy Shares for the pension fund safetynet. So that the market volatility does not hurt directly. This is one of the bullish move of the market. 

Twitter has this news trending in about the Pension fund acquiring the 65 percent into the fund. 

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National pension service is going to take the bitcoin based funds shares from the MicroStrategy and make it the most of their investment. So far the 65 percent of their portfolio in it sounds like major risk but they are bullish so we can't say much about it either. 

Another thing is that this is SK to USA based investment and this means there is going to be some level of the holding fee and the transaction fees too. Something like this would be harder to counter. 

In grand scheme you would notice that the South Korean pension fund would change the way crypto is being viewed by the govt around the world. But overall I would say that we have something to lean on  as the market remains fresh when in such conditions. more and more companies would trust buying the funds and the market continues to move. 

Cheers to South korea for keeping the market moving!

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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