In today’s Bitcoin update, the $33 billion New Jersey Police and Firemen’s Retirement Fund has entered the Bitcoin treasury stock market for the first time. The pension fund disclosed a new investment in Strive Asset Management, a firm known for backing corporate adoption of Bitcoin.
The move adds to growing institutional interest in Bitcoin-related equities. It also signals that public pension funds are becoming more comfortable with indirect crypto exposure through treasury-focused companies.
Pension Fund Makes Bitcoin Treasury Bet
According to a recent report, the New Jersey retirement fund has made a strategic investment into Vivek Ramaswamy-backed Bitcoin treasury firm Strive Asset Management. The fund, which boasts roughly $33 billion in public pension assets, purchased 14,077 shares of Strive stock, ASST, valued at around $220,000.
The New Jersey retirement fund currently covers nearly 90,000 active and retired police officers and firefighters. Interestingly, the investment now gives those government workers indirect exposure to Bitcoin through Strive’s BTC-focused treasury strategy.
Meanwhile, the strategic investment highlights rising interest among institutional investors seeking exposure to Bitcoin through treasury-focused equities rather than directly holding the digital asset itself. Strive has positioned itself as a major supporter of Bitcoin treasury strategies.
The company encourages firms to hold Bitcoin on their balance sheets as a reserve asset. The investment gives the pension fund indirect exposure to Bitcoin-linked corporate growth rather than direct ownership of BTC. Analysts say this approach may appeal to conservative institutional investors seeking crypto exposure while avoiding the custody risks of holding digital assets directly.
Strive Expands Bitcoin Holdings
The investment in Strive’s Bitcoin treasury stock comes shortly after the firm’s CEO Matt Cole announced in an X post that Strive purchased 382 BTC worth $30.3 million at an average price of $79,348 per coin. Interestingly, the firm now holds 15,391 BTC and ranks as the ninth-largest Bitcoin treasury company, outpacing Hut 8 while sitting just behind Riot Platforms Inc.
Cole also revealed that Strive currently holds a quarter-to-date BTC yield of 6.6% and a year-to-date yield of 18.4%. The latest purchase also follows another major Bitcoin acquisition by Strategy. The firm recently bought an additional 24,869 BTC, valued at $2.01 billion, bringing its total Bitcoin holdings to 843,738 BTC.
Bitcoin Pension Adoption Gains Expansion
The latest move by the New Jersey pension fund is being viewed as another bullish signal for the broader crypto market. Public institutions have historically been slow to adopt exposure to digital assets due to regulatory and volatility concerns.
However, sentiment appears to be shifting as Bitcoin becomes more integrated into mainstream finance. Analysts say pension funds entering the space could strengthen long-term confidence in the asset class. Currently, more than 11 U.S. state pension funds hold shares in Strategy, thereby gaining indirect exposure to Bitcoin through the company’s massive BTC reserves.
Further supporting adoption, Tim Walz recently signed a new bill allowing state banks and credit unions in Minnesota to offer Bitcoin custody services to customers. The development also highlights how Bitcoin treasury adoption is no longer limited to crypto-native firms. Traditional institutional investors are increasingly participating in the sector through strategic equity investments tied to Bitcoin growth.
Josiah Oluwadare
