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The California State Teachers’ Retirement System (CalSTRS) significantly increased its holdings in Strategy’s MSTR stock, led by Michael Saylor. According to a recent announcement, the retirement fund purchased an additional 5,191 MSTR shares in the fourth quarter of 2024, bringing its total holdings to 258,785 shares. The total value of the fund’s MSTR shares soared by 93.5% quarter-over-quarter, rising from $42.7 million to $82.7 million.
CalSTRS Relies on Bitcoin-Centric Strategy
Formerly known as MicroStrategy, now branded as Strategy, this public company is recognized as the largest institutional entity focused on Bitcoin 
$102,711 investments. The company adopted an aggressive BTC accumulation strategy throughout 2024, acquiring an additional 7,633 BTC just in February. With these additions, the company’s total Bitcoin reserves have reached 478,740 BTC, with an overall value exceeding $46 billion.
Moreover, Bitcoin’s price experienced a substantial increase of 53.5% in the fourth quarter of 2024, reaching record levels multiple times. The return of Donald Trump to the presidency, alongside crypto-friendly policies, bolstered investor confidence in the U.S. During this period, Strategy’s shares also experienced a significant uptick, with over 70% gains.
Retirement Fund Reduces Coinbase Holdings
In addition to increasing its MSTR shares, CalSTRS reduced its stake in the cryptocurrency exchange Coinbase Global by 707 shares, bringing its total to 306,215 shares. However, as Coinbase’s share price rose during the same period, the fund’s overall investment in Coinbase increased from $54.6 million to $76 million.
The California-based retirement fund manages approximately $352.9 billion in assets, making it the second-largest public pension fund in the U.S. This massive fund’s investment choices are closely monitored by participants in both traditional markets and the cryptocurrency space.
