The state pension funds and treasuries of twelve U.S. states invested $330 million in Bitcoin indirectly via buying Strategy (formerly MicroStrategy) shares, $MSTR, by the end of 2024. Bitcoin analyst Julian Fahrer reports that California and Florida, together with Wisconsin and North Carolina, possess the largest investments among these states.
The Teacher Retirement Fund of California holds 285,785 shares of Strategy worth about $83 million, according to the records from Feb. 14. The Public Employees’ Retirement System of the state maintains 264,713 shares with a total worth of $76 million.
The investment portfolio of California, which exceeds $69 billion, contains substantial holdings in Coinbase while combining with additional funds to support Strategy. Strategy stands as the biggest corporate Bitcoin owner through its possession of 478,740 BTC worth approximately $46 billion.
Through their investment in Strategy stock, shareholders gain access to Bitcoin through an indirect method. Between Feb. 3 and Feb. 9, the company made a new acquisition of 7,633 Bitcoin units at a cost of $97,255 per coin.
The retirement funds of Florida, Wisconsin, New Jersey, Arizona, Texas, and Florida own Strategy stock. Strategy stock prices have increased by 16.5% since 2025 began and have risen by 383% from February 2024 until now, surpassing the 62% growth of the overall crypto market during this time frame.