According to cryptocurrency analyst Julian Fahrer, by the end of 2024, state pension funds or treasuries in 12 North American states held shares in Strategy (formerly Microstrategy), worth a total of about $330 million. The California Teachers' Retirement Fund is the largest holding institution, holding 285,785 shares worth approximately $83 million, according to a 13F filing with the Securities Exchange Commission (SEC) on February 14. In addition, the fund holds 306,215 shares of Coinbase, worth about $76 million. Strategy is currently the world's largest bitcoin corporate owner, with more than 470,000 bitcoins, worth about $46 billion at current prices.