As traditional pension giants quietly dive into the crypto world, every swing of the tail represents a silent revolution against the old financial order.

Simply put, a Florida pension fund managing 1.4 trillion RMB (US$205 billion) recently quietly purchased approximately 580 million RMB (US$80 million) in Bitcoin-related stocks, including MicroStrategy (MSTR). This company, known as "All In Bitcoin, the fund is known for its "indirect investment" in Bitcoin, effectively making an indirect investment in Bitcoin.

My take: This is another landmark event for traditional capital's indirect entry into the market.

The signal is greater than the amount: While $80 million is just pocket change for a major fund, the entry of conservative capital like pension funds suggests that Bitcoin's store of value properties are gaining traction among mainstream institutions. In the past, only hedge funds dared to play with it, but now even ordinary people's pension funds are investing in it, and more major funds are bound to follow suit.

MSTR has become a "compliant channel": Many institutions are wary of the regulatory risks of buying Bitcoin directly, but buying MSTR shares through the US stock market (a Bitcoin ETF alternative) offers greater peace of mind. MSTR's stock price has risen over 130% this year, outperforming Bitcoin itself, demonstrating that institutions are more willing to use compliant tools for investment. Case Study: Just like the "hoarding" trend among listed companies following Tesla's purchase of Bitcoin in 2020, this entry of pension funds into the market could trigger a follow-up from global social security funds and sovereign wealth funds. If Norway's pension fund follows suit, it would be a nuclear-level signal.

(Market Impact) Short-Term: Instilling confidence in the market, MSTR's stock price and Bitcoin prices may rise in tandem.

Long-Term: Traditional capital will flow in through compliant channels, further solidifying Bitcoin's "digital gold" narrative. The halving cycle combined with capital inflows could trigger a new supercycle.

If even conservative pension funds are starting to bet on the future, what reason do you and I have to just watch and not act? Follow Qingyao in the next issue, where we'll explain how to leverage compliance tools to capitalize on this wave of institutional dividends! #美国宏观经济数据上链