Governments Increase Holdings in Bitcoin-Related Stocks, Standard Chartered Reports

According to PANews, a recent report by Standard Chartered reveals that several government agencies have increased their holdings in Bitcoin-related stocks, specifically MicroStrategy (MSTR), during the first quarter of this year. This trend indicates that in regions where direct Bitcoin ownership is restricted by regulations, official funds are gaining exposure to cryptocurrency assets through stock investments. The data highlights that sovereign funds, including Norway's Government Pension Fund and the Swiss National Bank, have collectively increased their MSTR positions equivalent to 700 Bitcoins. Additionally, South Korea's National Pension Service and Investment Corporation have jointly acquired stocks equivalent to 700 Bitcoins. Local pension funds in the United States, such as those in California, New York, and North Carolina, have collectively increased their holdings by approximately 1,000 Bitcoins worth of stocks. Furthermore, the French Trust Agency and the Saudi Arabian Monetary Authority have established MSTR positions for the first time. The report suggests that these holdings reflect a "structural demand growth" for Bitcoin, supporting the bank's core prediction that Bitcoin will reach $500,000 before U.S. President Donald Trump leaves office.