Twelve states in North America have recently poured $330 million into Strategy (formerly MicroStrategy) through their pension funds or treasury assets.

These investments were revealed as of the end of 2024, showing a rising interest in the business intelligence firm, which also holds the title of the largest corporate holder of Bitcoin .

California's State Teachers Retirement System (CalSTRS), with assets totaling $69 billion in various stocks, is the largest public holder of Strategy stock. As of the most recent filing with the US Securities and Exchange Commission on February 14, CalSTRS owned 285,785 shares of Strategy, valued at approximately $83 million.

Additionally, CalSTRS holds a significant position in Coinbase (NASDAQ: COIN ), with 306,215 shares worth $76 million at the time of filing.

The California Public Employees’ Retirement System (CalPERS), with a portfolio of around $149 billion in investments, also has substantial exposure to Strategy, holding 264,713 shares valued at about $76 million, along with $79 million in Coinbase stock.

In Florida, the State Board of Administration of the Florida Retirement System fund owns 160,470 shares of Strategy worth $46 million. The State of Wisconsin Investment Board has invested in 100,957 shares, valued at around $29 million. The Treasurer of the State of North Carolina holds Strategy shares worth $22 million, and New Jersey's Police and Firemen’s Retirement System and Common Pension Fund together have $26 million invested in the company.

Other states with investments in Strategy include Arizona, Colorado, Illinois, Louisiana, Maryland, Texas, and Utah. The company's significant Bitcoin holdings, which amount to 478,740 coins valued at approximately $46 billion at current prices, offer these funds a way to indirectly gain exposure to the cryptocurrency market.

Strategy has seen its stock price increase by 16.5% since the beginning of 2025, and an impressive 383% since the same period in 2024, significantly outperforming the broader crypto market's 62% gain over the past 12 months. The firm's most recent Bitcoin acquisition consisted of 7,633 BTC purchased between February 3 and February 9 at the price of $97,255 per coin.

The company completed a rebranding to Strategy, along with a new Bitcoin-themed visual marketing strategy, on February 5. This move reflects its commitment to Bitcoin and may continue to attract the interest of institutional investors seeking exposure to digital assets.