Japan authorities pension fund explores bitcoin as funding

Japan authorities pension fund explores bitcoin as funding

A person walks previous a poster that informs clients that bitcoin can be utilized on this store in Tokyo on January 06, 2018. 

Toru Yamanaka | Afp | Getty Photos

Japan’s authorities pension fund on Tuesday mentioned it’s requesting data on “illiquidity property” akin to bitcoin, as a part of analysis into potential new investments.

The Authorities Pension Funding Fund (GPIF) of Japan, the world’s largest pension fund by property underneath administration on a number of completely different rankings, mentioned it’s searching for “primary data” on illiquid property aside from these by which it already invests.

GPIF mentioned it at the moment places funds in home and overseas bonds and shares, actual property, infrastructure and personal fairness. It’s now searching for details about different property akin to forests, farmland, gold and bitcoin and the way these may be integrated into the portfolio of pension funds.

There isn’t any indication that GPIF will put money into bitcoin or different cryptocurrencies.

GPIF’s assertion comes days after bitcoin hit an all-time excessive and after the world’s largest cryptocurrency has rallied greater than 130% during the last 12 months.

That rally is partially due to the launch of bitcoin exchange-traded funds within the U.S. this 12 months, which has attracted billions of {dollars} of inflows.

Pension funds have been very cautious about moving into cryptocurrency investments because of the latter’s unstable nature. Some have however dipped their toes, with South Korea’s pension fund — the Nationwide Pension Service — shopping for shares of Coinbase final 12 months.

In Japan, the federal government in February proposed a regulation that will, if handed, enable funding funds to carry digital property like cryptocurrencies.

Unique information supply Credit score: www.cnbc.com

You must be logged in to post a comment Login