14 U.S. states deploy pension cryptocurrency investments, holding a total of $632 million in Strategy shares
Recently, the cryptocurrency investment boom of U.S. pension funds is quietly rising! Retirement fund managers in 14 U.S. states are quietly incorporating $632 million in Strategy shares into their portfolios, trying to get a piece of the Bitcoin rally without buying Bitcoin directly. This trend has gradually heated up in the first quarter of this year alone.
According to data provided by Julian Fahrer, these public funds increased their holdings by 302 million shares in the first quarter of 2025, with an average holding size increase of 44%. Because Strategy invests in Bitcoin, its shares have become an effective alternative to holding digital assets. For trust fund managers who are worried about custody or rule changes, they can trade MSTR shares like other stocks, thereby indirectly embracing Bitcoin.
In terms of geographical distribution, California topped the list with 694,119 shares (about $276 million), and Florida, Wisconsin, North Carolina, Ohio and Texas have also joined the game and hold a considerable number of shares. From Salt Lake City to Raleigh, the trend of investing in Strategy stocks is obvious.
Some states have even seen explosive growth! For example, the Utah Retirement System performed particularly well, holding 25,287 shares, an increase of 184%; Colorado also increased by 67%. Florida, Texas, Louisiana and other places also increased by more than 30%. However, while some states acted quickly, others were relatively cautious.
However, although pension funds need stable returns, the astonishing volatility of Bitcoin is hard to ignore. Its violent fluctuations are like a double-edged sword, and strategy shares will amplify this effect. If Bitcoin plummets, the relevant funds will inevitably suffer heavy losses; on the contrary, if it rebounds strongly, these holdings will show foresight.
At present, these public management agencies seem to be cautiously testing the waters, wanting to feel the rising potential of cryptocurrencies while seeking security through traditional stock rules. In short, this game of risk and opportunity is about to begin!
