Key takeaways
- CalPERS has about $80 million in strategic stocks to gain indirect exposure to Bitcoin.
- Strategy Inc. is a public company that holds Bitcoin as a principal asset in treasury, allowing shareholders to be exposed to Bitcoin price movements.
California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the United States with over $500 billion under management, acquired 448,157 Strategy shares worth about $80 million now in the third quarter.
The investment allows CalPERS to gain indirect exposure to Bitcoin through the strategy’s publicly traded shares without directly managing digital assets. The approach has become increasingly attractive to institutional investors seeking cryptocurrency exposure.
CalPERS has ongoing board discussions about cryptocurrency investments, reflecting broader trends among public pension funds exploring digital assets. The strategy allows institutional investors to gain access to Bitcoin while avoiding the complexities of direct digital asset management.
Public pension funds have increasingly invested in Bitcoin-linked stocks as a way to gain exposure to the digital asset without direct ownership, with the Strategy providing a key avenue for this indirect investment strategy.