PANews reported on May 16 that according to statistics from Julian Fahrer, founder of Bitcoin Laws, public retirement and fiscal funds in 14 U.S. states held MicroStrategy (MSTR) shares with a total market value of $632 million in the first quarter of 2025, with a single-quarter increase of $302 million and an average increase of 44%. Among them, California, Wisconsin, and Florida ranked first in terms of holdings, while Colorado and Utah had the largest increases, reaching 67% and 184%, respectively.