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British pension fund invests 3% of capital in bitcoin

British pension fund invests 3% of capital in bitcoin

HappyCoinNewsHappyCoinNews2024/11/06 05:55
By:HappyCoinNews

Employees of the consulting company Cartwright сообщили , that a British pension fund, the name of which is being kept secret, is investing 3% of its capital in bitcoins.

The pension fund management decided to buy the cryptocurrency on the advice of Cartwright experts, who noted the high potential of BTC in the long term. The analysts' opinion is supported by the fact that over the past five years Bitcoin went up in price by 634%, while, for example, gold for the same period increased in price only 81%.

British pension fund invests 3% of capital in bitcoin image 0

Bitcoin exchange rate change over the past five years

“We are proud to be part of this deal [the pension fund’s purchase of bitcoin], which we hope will be the start of a trend of UK institutional investors catching up with their peers and competitors around the world who have already found use for bitcoin’s unique properties,” said Sam Roberts, director of investment at Cartwright.

Not only the fact of investment in Bitcoin , but also the amount of funds that the UK organization plans to invest in cryptocurrency. For example, the US pension fund Michigan State Pension System spent on shares bitcoin ETF ARK 21Shares Bitcoin ETF (ARKB) only 0,05% of assets under management, which amounts to $6,6 million in cash equivalent.

Cartwright believes that Bitcoin will experience a similar pattern to what happened to stocks in the 1970s, when pension funds began buying up shares of companies. At first, they invested small amounts of money in companies, but over time, they began to allocate significant amounts of capital to the securities.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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