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📊 Pension funds buy MSTR again, but the scale is only 0.013% of AUM
The Louisiana State Employees’ Retirement Fund increased its Strategy (MSTR) holdings to 21.3k shares, worth $2.13 million. This additional buy is only 0.013% of its $16.3 billion in assets under management, which is more symbolic than an indication of the actual amount of capital.
Ongoing purchases of MSTR by pension funds suggest that some long-term capital recognizes “public companies holding BTC” as a tool for digital-asset exposure. But the 0.013% allocation ratio also shows that mainstream pension funds’ involvement in crypto is still in a tentative stage, far from trend-level allocation.
For MSTR, pension buying is a slow variable; in the short term, the stock price depends more on BTC’s direction and its own premium rate. With MSTR’s market cap currently trading at a premium of about XX% relative to its BTC holdings, is the market trading “leveraged BTC” or “enterprise value”?
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