The Michigan State Retirement Fund more than tripled its stake in Strategy, now holding 14,000 shares worth approximately $1.34 million. This move follows a broader trend among U.S. public pension funds, including CalPERS and Louisiana’s State Employees’ Retirement System, which are also increasing their MSTR positions. The fund, managing roughly $90 billion in assets for 700,000 current and former state employees, views buying Strategy shares as indirect Bitcoin exposure without the complexities of direct custody or private key management. Strategy currently holds approximately 687,410 BTC on its balance sheet, and Michigan’s $1.34 million position represents only about 0.0015% of the fund’s total assets.
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