- Arizona’s State Retirement System revealed approximately $24 million in Bitcoin exposure through its investment in Strategy shares.
- Strategy acts as a regulated vehicle for institutions wanting Bitcoin exposure without direct crypto asset holding.
Arizona State Retirement System, which manages pension and benefit programs for public employees, disclosed about $24 million in Bitcoin exposure through its 76,238-share position in Strategy, according to a recent SEC filing.
With Strategy stock (MSTR) closing at $177 on Thursday, the position’s current value has declined to $13.5 million.
Strategy serves as a regulated vehicle for pension funds seeking Bitcoin exposure through equity investments, allowing institutional investors to gain cryptocurrency exposure without directly holding digital assets.
US state pension funds have turned to Strategy stock to gain regulated exposure to Bitcoin without direct crypto holdings. Many states have revealed investments in Strategy, reflecting a movement among public retirement systems toward cryptocurrency-linked equities.