New Jersey pension fund buys $16.2M in MicroStrategy shares for indirect Bitcoin exposure

New Jersey's state pension fund has invested about $16.2 million in MicroStrategy (now called Strategy) shares, gaining indirect exposure to Bitcoin without owning the cryptocurrency directly. MicroStrategy holds over 250,000 Bitcoins, making its stock a leveraged proxy for Bitcoin price movements. This move reflects a growing trend among institutional investors seeking crypto exposure through public equities to avoid regulatory complexities. However, such investments carry amplified volatility and concentration risks, as MicroStrategy's stock price can swing more dramatically than Bitcoin itself.