AIMCo Buys $219M MicroStrategy Shares

Alberta Investment Management Corporation, a Canadian pension fund manager overseeing approximately 142 billion in assets, has purchased 1.38 million shares of MicroStrategy Inc., valued at about 219 million. The acquisition, disclosed in a recent regulatory filing, marks AIMCo's first investment in a company with significant Bitcoin holdings.

MicroStrategy, a business intelligence firm that has amassed the largest corporate Bitcoin treasury, now holds 818,334 BTC, acquired for more than 61.8 billion at an average price near 75,532 per coin. The company's shares serve as a popular proxy for Bitcoin exposure among institutions wary of direct cryptocurrency custody due to regulatory and compliance hurdles. AIMCo manages Alberta's public sector pensions, endowments, and savings funds, and its move aligns with a trend among Canadian investors. Other institutions, including National Bank of Canada with 1.47 million shares worth around 273 million, Canada Pension Plan Investment Board with 393,322 shares valued at about 127 million, and Royal Bank of Canada with holdings near 230 million, have also built positions in MicroStrategy.

The purchase comes amid a slowdown in MicroStrategy's...