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[Alpha Biz=(Chicago) Reporter Kim Jisun] It has been confirmed that the National Pension Service, a big player in the local capital market, has made about 40% of its profits from investing in "Coinbase" stocks listed on NASDAQ.
According to the National Pension Service on the 20th, it acquired 282,673 shares of Coinbase in the third quarter of last year. The valuation is $ 19,934,100, which is worth KRW 26 billion.
Coinbase is the largest virtual asset exchange in the United States listed on NASDAQ in April 2021. As a virtual asset exchange, stock prices tend to rise and fall when virtual asset trading volume and price fluctuate depending on market events.
It is estimated that the National Pension Service earned nearly 40% of its profits from buying Coinbase. This is because Bitcoin has been strong since the purchase, surpassing 50 million won on expectations of approval by the Exchange-Traded Fund (ETF).
In fact, the average purchase price per share of the National Pension Service is $ 70.5. The return calculated based on the closing price of 97.65 won on the 17th is 38.5%.
Future returns may be higher depending on favorable factors surrounding Bitcoin, such as half-life and spot ETF approval. In particular, the market expects the "Coinbase $ 100 era" to come in line with the approval of Bitcoin spot ETF scheduled for early next year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
