12 U.S. States Invest $330 Million in Strategy Stock for Bitcoin Exposure
Qadir AK17 Feb 20255 min read
As Bitcoin continues to capture the world’s attention, an increasing number of U.S. states are quietly making big moves to tap into its potential. The key player in this growing trend? Strategy, a business intelligence company once known as microstrategy microstrategy Strategy, formerly known as MicroStrategy, is a business intelligence and analytics firm founded in 1989 by Michael Saylor. The platform is known for its data analytics software and significant Bitcoin investments. It helps organizations analyze data, make informed decisions, and is a leading corporate Bitcoin holder. Its software division provides a cloud-based, AI + BI analytics solution that seeks to consolidate data, offer controlled semantic accessibility, and facilitate massive and real-time insights across companies. Key Features: Built to support large-scale enterprises and data management. Scalable reporting and analytics for large organizations. Maintain data security, governance, and compliance. Supports cloud-based analytics and AI-powered insights. Tools for data visualization, dashboards, and enterprise analytics. Business Intelligence , which holds the world’s largest corporate stash of Bitcoin.
But what makes this story even more fascinating is how states are using Strategy as a gateway to Bitcoin exposure, without actually buying the cryptocurrency.
As revealed by Julian Fahrer, by the end of 2024, 12 states will have invested over $330 million in Strategy’s stock, and the story behind it is one worth diving into.
California Leads the Charge with Major Investments
California is the biggest investor in Strategy, with its State Teachers Retirement System (CalSTRS) owning 285,785 shares worth around $83 million. Other state funds in California, including the California Public Employees’ Retirement System (CalPERS), also hold significant positions in Strategy, with CalPERS owning 264,713 shares valued at $76 million.
These funds are drawn to Strategy because its business model revolves around acquiring Bitcoin, making it a popular choice for states seeking to tap into Bitcoin’s growth.
Strategy’s focus on Bitcoin makes its stock an appealing option for states that want exposure to the cryptocurrency market. With Bitcoin’s long-term potential, investing in Strategy allows these states to indirectly benefit from Bitcoin’s rise.
International Investors Join the Strategy Trend
It’s not just U.S. states investing in Strategy. Julian Fahrer notes that public funds from around the world have also taken significant stakes in the company.
For example, Healthcare of Ontario Pension Plan in Canada holds $15 million in Strategy stock, while South Korea’s National Pension Service has invested $63 million.
Strategy’s Massive Bitcoin Holdings
What sets Strategy apart from other tech companies is its massive Bitcoin treasure trove. As of February 2025, the company owns 478,740 Bitcoins, worth an estimated $46 billion. Recently, the company added 7,633 more Bitcoins to its portfolio, at a cost of about $742 million.
This strategy of acquiring Bitcoin has been highly profitable, with Strategy’s stock rising 16.5% in early 2025 and a stunning 383% over the past year – significantly outpacing the broader cryptocurrency market.
Risks of Bitcoin Investments
Despite its success, Strategy has faced challenges. In its Q4 2024 earnings report, the company revealed a $670.8 million loss, mostly due to a $1 billion impairment charge on its Bitcoin holdings. This shows the risks of holding such a large amount of a volatile asset like Bitcoin. However, Strategy remains confident in its long-term Bitcoin strategy, which is central to its future growth.
Looking ahead, Strategy plans to continue growing its Bitcoin holdings with its “21/21 Plan”, which aims to raise $42 billion over the next three years to buy more Bitcoin.
A Look at West Virginia’s Strategy
Meanwhile, some states are taking steps to invest in digital assets. West Virginia Senator Chris Rose has introduced the Inflation Protection Act of 2025, which would allow the state treasury to invest in digital assets like cryptocurrencies and precious metals.
This effort is part of a larger trend, with U.S. President Donald Trump Donald Trump Donald J. Trump is a US-based business tycoon, pro-crypto politician, and 47th (present) President of the United States. He comprehends the significance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto politician. Once doubtful about Bitcoin's dominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his pool. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency. Quick Facts Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Famous For Business, Politics Donald Trump - Career Highlights & Events 2016 – Elected as the 45th President of the United States from the Republican Party. 2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments 2019 – Slammed crypto king Bitcoin on X, calls it "not money". 2025 – A gala party was hosted by him for the top 220 Trump meme coin holders. President setting up a group to explore a federal digital asset reserve. Other states like Utah and Kentucky are also exploring ways to invest in digital assets.
It seems like Strategy’s Bitcoin strategy could become a blueprint for others to follow in the years ahead.
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