According to Binance News and Cointime, California pension funds disclosed on May 16, 2025, a purchase of $276 million in MicroStrategy (MSTR) shares—a strategic move that provides Bitcoin exposure via equity holdings.
Per Cryptopolitan and TheCryptoBasic, investments from at least two major California systems—CalSTRS and CalPERS—total 694,119 shares, representing a combined $276 million stake.
Cryptopolitan notes public pension investment in MicroStrategy grew by $302 million in Q1 2025 across 14 states, bringing total institutional exposure to $632 million.
According to Coindoo, California’s stake leads the nation: top contributors being CalPERS ($142 M) and CalSTRS ($134 M), followed by other state systems.
Observers say this signals growing legitimacy for Bitcoin. MicroStrategy holds large on‑chain reserves, making equity ownership a proxy for crypto investment. Coindoo frames such pension diversification as a “new level” of institutional acceptance.
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