Canada's Pension Fund Just Threw Some Serious 💸 at That Bitcoin Company 🤑
Canada’s CPP Fund Steps Into MSTR as Strategy Adds 8,178 More BTC. Okay, so listen up, Canada's biggest pension fund, CPPIB, just copped a grip of shares in MicroStrategy (now called Strategy), the company that's obsessed with Bitcoin. They scooped up a fat stack of 8,178 more BTC. Stock's been wild
TL:DR
Okay, so listen up, Canada's biggest pension fund, CPPIB, just copped a grip of shares in MicroStrategy (now called Strategy), the company that's obsessed with Bitcoin. They scooped up a fat stack of 8,178 more BTC. Stock's been wildin' out, but some think it might be chillin' soon.
The Deets
Alright, fam, lemme break it down for you. The CPPIB, which is basically Canada's retirement money, just dropped like $127 million (now closer to $80 mil tho 😬) on MicroStrategy (aka Strategy) stock. This is their first time dabbling in this company, which is kinda sus, but also, maybe they know something we don't? 🤔
And speaking of Strategy, they went full send and bought another 8,178 Bitcoins. At about $102,171 a coin. 🤯 That's a lot of cheddar. They now have a grip, like 649,870 Bitcoins, costing around $48.37 billion. They're flexing a 27.8% yield year-to-date on their BTC holdings. Which is a W.
The stock's been on a rollercoaster, but some peeps think the selling pressure might be easing up. So, maybe it's time to buy the dip? Or maybe it's still a major L waiting to happen. 👀 Either way, keep your eyes peeled because this story is def gonna keep evolving.
Abbreviations Glossary
| Abbreviation | Full Form |
|---|---|
| CPPIB | Canada Pension Plan Investment Board |
| BTC | Bitcoin |
| Stock's been wildin' out | The stock price has been highly volatile. |
| Went full send | Made a big, risky move. |
| Cheddar | Money. |
| Flexing | Showing off, bragging. |
| W | Win. |
| Major L | Big loss. |
| Sus | Suspicious. |
| Buy the dip | A strategy where investors purchase an asset after it has dropped in price. |
| Peeps | People. |