Thirteen American States Allocate $330 Million towards Michael Saylor's Equity Approach
states themselves are diving headfirst into the crypto world, pumping a massive $330 million into stocks of companies like Michael Saylor's Strategy, with pension funds acting as the lifeblood. California, with CalSTRS and CalPERS, is leading the pack, holding over $159 million in Strategy shares alone. This move links the savings of millions of retirees to Bitcoin, causing quite a stir.
Crypto analyst Julian Fahrer uncovered this game-changing info in public records. Now, Florida, Wisconsin, and North Carolina have substantial shares in Strategy too. Whether it's the allure of future returns or a forward-thinking approach, state-backed funds are putting hard-earned retiree savings on Bitcoin's wildly unpredictable ride.
Supporters call it a smart bet, while critics see it as a risky gamble with public money. CalSTRS and CalPERS have also snapped up Coinbase stocks, owning millions worth combined. With this move, public funds have positioned themselves as significant stakeholders in two major crypto-related firms. Former MicroStrategy CEO Michael Saylor's stance on Bitcoin has likely influenced this seismic shift.
Imagine a retired teacher dedicating years of service and now sleepless nights as Bitcoin prices swing. The volatile crypto market could mean a rollercoaster ride for these unsuspecting pensioners. Some may embrace the change, while others might fret about stability. Traditionally, pension funds favor low-risk investments, making this Bitcoin foray a radical departure.
As the financial future of millions hangs in the balance, concerns about risk, volatility, and future stability swirl around this decision. Democratic lawmakers in North Carolina are pushing for laws that would allow up to 5% of state funds to be invested in cryptocurrencies, but state treasurers remain cautious due to volatility. Arizona's legislation aims to liberate up to 10% of state funds to be invested in Bitcoin, marking a significant change.
Whether this bold move proves prosperous or ill-advised remains a hot debate. As these states gamble with their retirees' savings, the crypto sphere eagerly awaits the outcome. It's a high-stakes game, and the pensions and treasury funds are all-in.
- Cryptocurrency investments have linked the savings of millions of retirees to Bitcoin, following states like California investing $159 million into Michael Saylor's company, Strategy.
- Florida, Wisconsin, and North Carolina have also joined this trend, holding substantial shares in Strategy.
- This move positions public funds as significant stakeholders in two major crypto-related firms, Coinbase and Strategy.
- The volatile crypto market could mean a rollercoaster ride for these unsuspecting pensioners, causing concerns about risk, volatility, and future stability.
- Democratic lawmakers in North Carolina are pushing for laws to invest up to 5% of state funds in cryptocurrencies, while state treasurers remain cautious due to volatility, setting the stage for a significant change in Arizona, where legislation aims to liberate up to 10% of state funds to be invested in Bitcoin.
