Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
Key Notes
- LASERS purchased 17,900 Strategy shares from its $15.6 billion portfolio, following Texas's direct BTC treasury purchases.
- Most pension funds prefer indirect exposure via ETFs or crypto stocks due to fiduciary duties and volatility concerns.
- Houston's firefighter fund outperforms peers after 2021 direct Bitcoin investment at $65K versus current $90K prices.
The Louisiana state pension fund (LASERS), a program mandated for all state employees, has reportedly announced its indirect exposure to Bitcoin BTC $93 024 24h volatility: 2.5% Market cap: $1.86 T Vol. 24h: $44.54 B through the recent purchase of 17,900 shares in Bitcoin treasury firm Strategy.
According to data analytics and Bitcoin tracking platform Bitcoin Treasuries, the LASERS fund holds $15.6 billion in total value with Strategy stock ($MSTR) making up about $3.2 million.
JUST IN: $15.6 billion U.S. Louisiana State Employees Fund just reported holding 17,900 ($3.2 million) #Bitcoin treasury company Strategy $MSTR shares. pic.twitter.com/q5quvFjH7r
— BitcoinTreasuries.NET (@BTCtreasuries) January 19, 2026
Government Exposure to Bitcoin Continues Trending
The LASERS fund joins a litany of other state programs, including numerous pension funds, around the US who have exposure to Bitcoin either directly or through ETFs or proxy stocks.
While the Louisiana fund’s exposure might be relatively small, at $3.2 million, it represents a continuation of this trend and the tacit endorsement for Bitcoin as a treasury asset from yet another state-level government entity in the US.
As Coinspeaker reported in June 2025, Texas became the first US state to approve adding Bitcoin to its treasury later purchasing $10 million BTC directly. Numerous other states followed suit with proposals for their own Bitcoin treasuries, including Arizona, Michigan, Montana, and Tennessee.
Pension Funds Usually Avoid Direct Exposure
Funds such as LASERS have a mandate to increase their treasuries coupled with a strict fiduciary duty to limit exposure to volatility.
As a result, a litany of state pension funds have limited their exposure to Bitcoin to ETFs or investment in crypto-adjacent financial firms. Examples include the New York State Common Retirement Fund, California State Teachers’ Retirement System, and Florida Retirement System, each of which have significant investments in $MSTR.
In the realm of direct exposure, numerous state pension treasuries, such as the Michigan and Jersey City retirement funds, have invested heavily in Bitcoin ETFs. But very few have purchased BTC directly. The Houston Firefighters Relief and Retirement Fund (HFRR) made headlines back in 2021 when it announced a $25 million investment in Bitcoin and other cryptocurrencies.
As of January 2026, the HFRR appears to be outperforming nearly all other similar pension funds in its financial class with Bitcoin hovering above $90K against the fund’s initial purchase price of around $65K.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
