Catching the Bitcoin Wave: US States boost MicroStrategy Stock Holdings
Investment of $632 Million by Multiple US States in Q1 2025 towards a Particular Strategy's Stocks
Jumping on the Bitcoin train, 14 US states have racked up a whopping $632 million in MicroStrategy (MSTR) stock, housed within public retirement and treasury funds as of Q1 2025. This trend showcases a shrewd move to tap Bitcoin indirectly, steering clear of direct cryptocurrency investment.
States' Rocketing MSTR Holdings
Bitcoin aficionado Julian Fahrer shed light on this trend via X, where states raised their MSTR stakes by a jaw-dropping 91.5% to $632 million, up from the $330 million reported in Q4 2024. Fahrer wrote, "A collective increase of $302m in one quarter. The average increase in holding size was 44%."
California, the Goliath in Gains
California reigns supreme as the top dog, hoarding $276 million worth of MSTR shares across two major funds – the State Teachers' Retirement System (CalSTRS) and the Public Employees Retirement System. CalSTRS holds 336,936 shares, marking a 18% increase, while the Public Employees' Retirement System, with 357,183 shares, spiked its stake by 35%, adding 92,470 shares in Q1 2025.
Sunshine State Shining Bright
Florida follows California with holdings worth $88 million in the State Board of Administration Retirement System. This represents a substantial 38% growth. North Carolina and New Jersey both have $43 million in MSTR. The former's Treasurer manages 107,925 shares, registering a 41% quarterly increase.
Garden State Growing Greener
In New Jersey, the Police and Firemen's Retirement System holds 33,628 shares (40% growth), while the Common Pension Fund D boasts 76,615 shares (14% growth).
Arizona's Albino Rhino Roaming Free
Despite Governor Ducey's recent veto of a Bitcoin reserve bill, Arizona has continued stockpiling MSTR. The Grand Canyon State's MSTR holdings have expanded by 25%, now amounting to 66,523 shares worth $26 million.
Dairyland's Daring Maneuvers
Wisconsin's Investment Board sits on 127,528 shares valued at $51 million, growing 26% in the last quarter. This growth indicates an increased confidence in MSTR.
Yet, the Investment Board's decision to dump their entire $300 million stake in BlackRock's iShares Bitcoin Trust (IBIT) demonstrates caution regarding certain crypto investments.
Utah's Upswing in Uptake
Utah stands out with a staggering 184% quarterly growth rate. Despite holding a relatively modest 25,287 shares valued at $10 million, this rapid accumulation is indicative of a swift investment strategy.
Colorado comes in close behind, recording a solid 67% quarterly growth. The Public Employees Retirement Association currently holds 30,567 shares worth $12 million.
MSTR's Metamorphosis in 2025
MSTR has experienced strong growth in 2025, with its value appreciated by 37% year-to-date. In fact, MSTR prices soared to $430 on May 9, hitting a high not seen since December 16, 2024. However, the stock plummeted 19.7% over the past day, closing at $397.
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- The trend of states indirectly tapping into Bitcoin through MicroStrategy (MSTR) stock investments has seen a significant boost, with a collective increase of $302 million in one quarter.
- California leads the pack with $276 million worth of MSTR shares, with both the State Teachers' Retirement System (CalSTRS) and the Public Employees Retirement System contributing to this holdings.
- Utah has shown a swift investment strategy, with a staggering 184% quarterly growth in MSTR holdings, despite holding a relatively modest total.
- Despite some cautious approaches in specific crypto investments, states have continued to invest in MSTR, demonstrating an increased interest in fintech, technology, and trading sectors.
