Ohio Teachers Pension Fund Raises Stake in Strategy to 87,689 Shares

Ohio Teachers Pension Fund has quietly added more exposure to Bitcoin. The Ohio State Teachers Retirement System disclosed that it bought more shares of Strategy. The firm, which is best known for holding Bitcoin on its balance sheet. The update is coming on February 5 from BitcoinTreasuries.NET. The fund added 12,453 shares and now holds a total of 87,689 Strategy shares. At current prices, the stake is worth about $11 million.

A Small Increase, But a Clear Signal

The new purchase looks modest on paper. Still, it matters. The Ohio Teachers Pension Fund didn’t rush in with a large buy. Instead, it increased its position slowly. This latest move builds on its first Strategy investment, which started in the second quarter of 2025. Back then, the fund disclosed an initial position worth over $20 million. Since then, prices have moved. 

JUST IN: U.S. Ohio State Teachers Retirement Fund just disclosed they bought 12,453 more #Bitcoin treasury company Strategy $MSTR shares and now holds a total of 87,689 shares ($11 million). pic.twitter.com/35knUP9XLq

— BitcoinTreasuries.NET (@BTCtreasuries) February 5, 2026

Strategy shares dropped along with Bitcoin during market pullbacks. As a result, the current value looks lower. Even so, the fund chose to add more shares rather than exit. This step-by-step approach fits how pensions usually act. They test first and then adjust. They avoid sudden bets. Which makes the update more meaningful than the size suggests.

Why Pensions Use Strategy for Bitcoin Exposure

Pension funds face strict rules. Direct Bitcoin custody brings risks. It also raises legal and operational questions. Strategy offers a workaround. By buying a listed stock, funds get Bitcoin exposure without holding coins directly. Strategy currently holds more than 700K BTC. That makes its stock a high-risk, high-reward proxy for Bitcoin. When BTC rises, the stock often rises faster. When BTC falls, losses can also be larger.

For pensions, this structure feels familiar. They already buy equities and already manage stock risk. Adding Strategy fits into existing systems. It avoids wallets, private keys and exchange risk. That is why many institutions prefer this route.

Part of a Wider Institutional Pattern

The Ohio Teachers Pension Fund is not alone. Other U.S. pensions already hold Strategy shares. Some added exposure earlier while others trimmed positions during volatility. Overall, the pattern looks cautious, not speculative. It is also worth noting the scale. The Ohio fund manages tens of billions of dollars. An $11 million position is tiny in that context. It doesn’t move the fund’s overall risk. 

But symbolically, it shows comfort with Bitcoin linked assets. This comes at a time when Bitcoin prices remain unstable. Strategy’s leveraged model still draws debate. Supporters see long term conviction. Critics warn about downside risk. Pension funds seem aware of both sides.

What This Could Mean Next

This Ohio Teachers Pension Fund update doesn’t mean pensions are going all-in on Bitcoin. It doesn’t signal a major shift. But it does show persistence. Even after volatility, some funds keep exposure. If Bitcoin stabilizes, more incremental buys may follow. If markets worsen, funds may pause. Either way, this slow accumulation tells a clear story. Traditional finance is not rushing into crypto. It is easing in. One share at a time.