Canadian Pension Fund Buys Strategy Stock

A leading Canadian pension fund has been buying the dip in the stock of Bitcoin (CRYPTO: $BTC) treasury firm Strategy (NASDAQ: $MSTR). 

The Alberta Investment Management Corporation (AIMCo) has purchased 1,382,000 shares of Strategy stock for $172.47 million U.S, according to the fund’s latest regulatory filing. 

AIMCo is a public pension fund run by the western Canadian province of Alberta. It manages more than $140 billion U.S. on behalf of Alberta’s public sector pension plans.

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Currently, AIMCo is one of Canada’s largest institutional investors.

AIMCo previously held a small position in MSTR stock from late 2019 to mid-2020, around 198,000 shares at that time. 

The fund exited the position entirely in September 2020, shortly after the company pivoted from being a software concern to a Bitcoin treasury firm.

The regulatory filing shows that AIMCo’s average cost of MSTR stock now is $125 U.S. per share. 

With Strategy’s shares currently trading at $180 U.S., the pension fund is sitting on an unrealized gain of 44%.