- South Korea’s NPS has invested $33.75 million in MicroStrategy by acquiring 245,000 shares.
- This investment follows NPS’s earlier purchase of 282,700 Coinbase shares.
- South Korean civil servant charged with embezzling $400,000 for cryptocurrency investments.
South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, has made a significant investment in the cryptocurrency sector. By acquiring 245,000 shares of MicroStrategy (MSTR) during the second quarter of this year. This investment is valued at approximately $33.75 million, highlighting NPS’s growing interest in cryptocurrency.
MicroStrategy, a prominent business intelligence firm, is well-known for its substantial Bitcoin holdings, which are integral to its strategy. Following the recent US SEC approval of the Microstrategy ETFs, the acquisition by NPS signals a strong vote of confidence in MicroStrategy’s approach. And the long-term potential of cryptocurrency as an asset class.
Following this, the MSTX Exchange Traded Fund (ETF) is offered by Defiance ETFs which looks for a daily investment result of 1.75 (175%). The daily percentage change in the share price of Microstrategy. Thus investors anticipate that MSTX will provide them with further exposure to Bitcoins. Since Microstrategy is well known to people for its large Bitcoin holdings.
ROK Charged with $400K Crypto Embezzlement
High inflation rates, high interest rates, and market decline are now major issues in South Korea. Considering the South Korean economy showing a sharp decline, a South Korean civil servant has been charged with allegedly embezzling more than $400,000 from government funds. With a portion of the stolen money reportedly used for cryptocurrency investments. The Korean Sports and Olympic Committee has filed a lawsuit against the person for fraud and embezzlement of money.
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