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Pensioenfonds in Texas schrijft geschiedenis en schaft bitcoin (BTC) en ethereum (ETH) aan

Texas Pension Fund Makes History, Acquires Bitcoin (BTC) and Ethereum (ETH) » Crypto Insiders

The Houston Firefighters Relief and Retirement Fund, a US pension fund managed by nearly $5.5 billion, announced that it had recently invested in both. Bitcoin (BTC) as Ethereum (ETH). This makes the fund one of the first pension funds in the world to dare to invest in cryptocurrencies.

Pension fund

The pension fund is said to have invested a total of about $25 million. The chief investment officer From the fund, Ajit Singh, I thought the choice to invest in these cryptocurrencies made sense, he says at Interview with Bloomberg:

“I see this only as a tool to manage my risk. It has a positive expected return and has a low correlation with other asset classes.”

The fact that the Texas pension fund is investing in it Cryptocurrency, although it was only $25 million, which is great because so far these pension funds have been very conservative when it comes to possible crypto investments.

Only two pension funds in the United States preceded the Houston Firefighters Relief and Retirement Fund. The massive upward moves of Bitcoin and Ethereum in recent times have forced institutional investors to take a closer look at potential investments.

also agree to First Bitcoin ETFIt can provide a boost to the flow of institutional funds. Optimism about further institutional adoption is however very high at the moment.

However, Ajit Singh strongly preferred investing directly in Bitcoin and Ethereum over a potential investment in one of the new Bitcoin future ETFs. In his view, the risks associated with futures ETFs are too great.

“We didn’t want industrial exposure. That’s why we decided to go directly to tokens. With more and more institutional adoption happening, more and more changes in supply and demand will be developed. Owning physical assets and physical tokens will generate income potential for us in the future.”

Singh also notes that they have been keeping a close eye on developments in the cryptocurrency markets for some time. However, there came a time when they could no longer ignore the cryptocurrency world and investing became the next logical step.

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