Canadian Pension Giant AIMCo Rebuilds Position in Strategy as Bitcoin Exposure Expands

AIMCo Invests $172 Million in Strategy Shares with Strong Paper Gains

Alberta Investment Management Corporation has re-entered a major position in Strategy, purchasing approximately 1.38 million shares for $172.5 million during the first quarter. Based on current market valuation, the stake is now worth around $241 million, resulting in an estimated unrealized gain of about $69 million.

The position implies an average entry price of roughly $125 per share, compared to recent trading levels near $175, reflecting strong performance following the company’s continued Bitcoin-focused strategy.

Return to Strategy After Previous Exit in 2020

AIMCo previously held a smaller position in Strategy between 2019 and 2020 before fully exiting in September 2020. The exit came shortly after the company’s major pivot toward holding Bitcoin as a core treasury asset under executive chairman Michael Saylor.

This renewed investment marks a notable reversal in institutional positioning, suggesting growing comfort with Bitcoin-linked corporate exposure among large pension managers.

Institutional Investors Use Equity as Indirect Bitcoin Exposure

AIMCo manages more than $140 billion in pension assets, making it one of Canada’s largest institutional investors. Its return to Strategy reflects a broader trend among institutions that face restrictions on direct cryptocurrency holdings.

Many funds are increasingly using equity exposure or Bitcoin-linked instruments such as spot ETFs to gain indirect access to digital assets. This approach allows institutions to participate in Bitcoin’s price performance while remaining within traditional regulatory and mandate constraints.

Growing Institutional Confidence in Bitcoin Treasury Strategy

Strategy’s continued accumulation of Bitcoin has made it a key proxy for institutional exposure to the asset class. The company’s stock performance remains closely tied to Bitcoin price movements, attracting investors seeking leveraged upside without holding crypto directly.

The latest investment highlights ongoing institutional demand for regulated pathways into Bitcoin exposure, even as volatility and regulatory uncertainty persist in broader crypto markets.