Why South Korea’s NPS Invested $33.75M in MicroStrategy and Bitcoin_blog

16 Aug, 2024

Why South Korea’s NPS Invested $33.75M in MicroStrategy and Bitcoin

South Korea's National Pension Service (NPS), one of the world’s largest public pension funds, has expanded its portfolio by investing $33.75 million in MicroStrategy shares. This acquisition of 245,000 shares marks a significant foray into the digital asset industry, reflecting the fund’s strategy to diversify and seek higher returns. The investment represents 0.04% of the NPS’s total U.S. stock holdings, according to a recent 13F filing.

NPS Expands Digital Asset Investments After Coinbase Success

This isn’t the NPS's first move into the crypto world. In Q3 2023, the pension fund invested in Coinbase, purchasing 282,673 shares. The fund capitalized on the stock’s 40% price surge, selling 23,956 shares and realizing considerable profits. The success of this investment may have fueled its decision to further invest in digital assets by acquiring MicroStrategy shares.

MicroStrategy: A Leader in Bitcoin Holdings

MicroStrategy, led by Bitcoin advocate Michael Saylor, is renowned for its aggressive Bitcoin strategy. The company currently holds 226,500 Bitcoin, worth over $13 billion. This makes MicroStrategy the largest corporate holder of Bitcoin, owning almost 1% of the world’s supply. Under Saylor's leadership, the company has continually increased its Bitcoin holdings, even during periods of market downturn.

South Korea's Regulatory Shift Toward Digital Assets

The NPS's move into crypto-related stocks coincides with South Korea’s evolving digital asset regulations. The introduction of the Virtual Asset User Protection Act has provided a clearer framework, reducing the risk for institutional investors like NPS. This regulatory clarity may have bolstered the pension fund’s confidence in investing in companies with strong exposure to Bitcoin.

Long-Term Crypto Outlook

The NPS's investment in MicroStrategy is part of a broader strategy to diversify its portfolio and tap into the high-growth potential of digital assets. With South Korea advancing its regulatory framework and MicroStrategy’s unwavering commitment to Bitcoin accumulation, this move reflects the growing institutional belief in the future of cryptocurrencies.

This calculated investment positions NPS at the forefront of a global shift toward digital asset integration in traditional finance.

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19 Aug, 2024

Vietnam’s Investment in Laos Hits USD 5.5 Billion

Vietnamese investment in Laos has reached a total of USD 5.5 billion across 256 projects.These figures were released on 18 August at a conference in Nghe An Province, Vietnam, which reviewed the progress of the Vietnam-Laos cooperation plan for 2024 and set strategic directions for the 2021-2025 bilateral cooperation agreement.Since 2021, Laos has granted investment licenses for Vietnamese projects totaling USD 869.9 million. In the first half of 2024, Laos approved six new Vietnamese projects, amounting to USD 339 million. These projects span sectors such as mining, electricity, and health care, according to Phet Phomphiphak, Lao Minister of Planning and Investment and chairman of the Laos-Vietnam Cooperation Committee.The disbursed capital by Vietnamese enterprises in Laos has reached approximately USD 2.8 billion.Trade between the two countries has also surged, with bilateral trade hitting a 11.1 percent increase from the previous year.Both nations are actively pursuing new cooperative projects, including the Vientiane-Hanoi Expressway and the Vientiane-Tha Khek-Tan Ap-Vung Ang Railway. They are also focusing on the development of Vung Ang Ports I, II, and III.Phet Phomphiphak highlighted the importance of improved cooperation between Vietnamese and Lao ministries to better manage investments, resolve issues, and oversee joint ventures. Vietnamese Deputy Minister of Planning and Investment Tran Quoc Phuong also mentioned the proactive coordination between both countries despite global challenges.Looking ahead, Vietnam and Laos plan to focus on implementing high-level agreements and advancing infrastructure projects, with a strong emphasis on human resource development and innovations in high-tech manufacturing, mining, and e-commerce.Both nations are also committed to boosting bilateral trade, enhancing connectivity, and improving energy cooperation by connecting power grids between Vietnam, Laos, and Cambodia.

14 Aug, 2024

PayPal’s PYUSD Stablecoin on Solana Surpasses Its Supply on Ethereum

Quick Take① The supply of PayPal’s PYUSD stablecoin on Solana surpassed its supply on Ethereum.② The PYUSD stablecoin on Solana has a supply of 377 million, while Ethereum-based PYUSD stands at 356 million.PayPal’s PYUSD Stablecoin on Solana Surpasses Its Supply on EthereumThe supply of PayPal’s U.S. dollar-pegged stablecoin on Solana has surpassed its Ethereum network supply, data shows.Since launching in May, the supply of Solana-based PYUSD tokens has surpassed 377 million. Meanwhile, Etherscan data shows that Ethereum-based PYUSD tokens have a supply of 356 million.PayPal’s U.S. dollar-pegged stablecoin launched on Ethereum in August 2023 through a partnership with custodian firm Paxos. Following its rollout, PYUSD’s supply reached 230 million by the end of 2023. Since then, the total supply of stablecoins has more than tripled — surpassing 733 million (worth $733 million).The stablecoin expanded to Solana in May 2024. There, Solana-based decentralized exchanges like Jupiter and Orca have added PYUSD to their pools, which may have contributed to the stablecoin's growth on the network — along with top centralized stablecoins such as USDC and USDT.PayPal's market cap of $733 million makes it the fourth-largest centralized stablecoin issuer after Tether (USDT), Circle (USDC), and First Digital (FUSD). According to the related data dashboard, USDT and USDC have market caps of $120 billion and $36 billion, respectively.