California Pension Fund Bets on Bitcoin-Linked Stocks
The California State Teachers Retirement System (CalSTRS) has significantly increased its investment in Strategy (formerly MicroStrategy), reporting $83 million in MSTR shares as of its latest SEC filing. During the fourth quarter of 2024, the pension fund added 5,191 shares, bringing its total holdings to 258,785 MSTR shares.
Strategy’s Bitcoin Holdings Continue to Grow
Strategy remains the largest corporate holder of Bitcoin, recently adding 7,633 BTC worth approximately $742.4 million, bringing its total Bitcoin holdings to 478,740 BTC. With Bitcoin experiencing a significant rally following the election of pro-crypto President Donald Trump, Strategy’s stock surged over 70% during Q4. The company’s shares opened in October at $168.5 and ended the year at $289.6, later climbing to $337.73 in early 2025.
CalSTRS Maintains Exposure to the Crypto Market
CalSTRS, the second-largest public pension fund in the U.S. with $352.9 billion in total assets, also reduced its Coinbase holdings by 707 shares. Despite the reduction, the total value of its Coinbase investment rose from $54.6 million to $76 million, reflecting continued institutional interest in crypto-related stocks.
