Florida’s state pension fund has quietly increased its exposure to Bitcoin by adding more shares of MicroStrategy, signaling a growing interest among U.S. public funds in crypto-linked investments—even as both Bitcoin and MicroStrategy stock hover near key 2025 lows.
According to a report from The Coin Republic, Florida’s pension fund expanded its position in MicroStrategy (MSTR), a company widely viewed by investors as a proxy for Bitcoin due to its large BTC holdings. While the size of the investment remains small relative to the fund’s total assets under management, the move reflects a broader trend taking shape across the United States.
Data shows that more than a dozen state-level public retirement systems and treasury funds have now acquired shares of MicroStrategy. These institutions are not buying Bitcoin directly, but instead are using MSTR stock as an indirect way to gain exposure to the world’s largest cryptocurrency. For traditionally conservative public funds, this approach offers a familiar equity structure while still participating in Bitcoin’s potential upside.
Institutional interest in MicroStrategy appears to have strengthened toward the end of the year. Ownership data published in December revealed that institutions increased their MSTR holdings during the month, pushing institutional ownership to its highest level recorded in 2025. Notably, much of this accumulation occurred as the stock price declined, suggesting that large buyers were stepping in on dips rather than chasing rallies.
MicroStrategy shares recently revisited their lowest price point of the year, a level last seen in early December. Despite this weakness, some technical signals have caught the attention of market watchers. Analysts point to a bullish divergence in the stock’s Relative Strength Index (RSI), along with increased activity shown by the Money Flow Index during the first half of December—both indicators that often hint at renewed buying interest beneath the surface.
The stock’s close relationship with Bitcoin remains unchanged. Because MicroStrategy holds substantial Bitcoin reserves on its balance sheet, its share price tends to move in tandem with BTC. Bitcoin itself has struggled to regain upward momentum in recent sessions, which has weighed on sentiment across crypto-related equities.
Looking ahead, analysts remain divided on what 2026 could bring for Bitcoin and risk assets more broadly. Some expect a recovery as liquidity conditions improve, while others have trimmed their forecasts amid uncertainty around macroeconomic trends and investor appetite for higher-risk investments.
Still, MicroStrategy continues to attract institutional capital from investors seeking regulated, equity-based exposure to Bitcoin. Market observers note that if cryptocurrency markets regain strength, continued institutional inflows could provide support for MSTR shares—keeping the stock firmly in focus as a bellwether for institutional crypto sentiment.
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