On May 16, PANews reported that according to Julian Fahrer, founder of Bitcoin Laws, public retirement and financial funds in 14 states in the United States held a total of $632 million in MicroStrategy (MSTR) shares in the first quarter of 2025, with an increase of $302 million in a single quarter and an average holding increase of 44%. Among them, California, Wisconsin, and Florida had the largest holdings, while Colorado and Utah experienced the largest increases, reaching 67% and 184%, respectively.