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BITCOIN SOON IN EVERY PENSION FUND?

 


The global financial manager Grayscale specializes in the management of cryptocurrencies. Here, Grayscale has developed into the largest crypto-managed fund, which is virtually unrivaled.


The largest fund is the Grayscale Bitcoin Trust, which holds a total of $18.5 billion in Bitcoin. Grayscale also offers funds for Basic Attention Token, Bitcoin Cash, Chainlink, Decentraland, Ethereum Classic, Ethereum, Filecoin, Horizon, Litecoin, Livepeer, Solana, Stellar Lumen, Zcash, as well as mixed funds.


In November of last year, Grayscale's total assets under management surpassed that of the largest gold ETF . SPDR Gold Shares has over $58 billion in assets under management. However, due to the collapse in cryptocurrency prices, Grayscale's assets under management have slipped back below this mark.

Bitcoin in pension funds?

The CEO of the same money manager, Michael Sonnenshein, told CNBC in an interview on June 10, 2022 that pension funds are looking more intensively at diversifying their portfolios.


The use of Bitcoin and other cryptocurrencies is also discussed here. More and more pension funds are following the example of Fidelity, the largest pension manager in the US, and are considering adding cryptocurrencies to their portfolios.


Sunshine explains:


We spend time with politicians and some of the largest pensions and endowments focused on diversifying their portfolios and actively exploring crypto allocations. It's a different kind of consensus.

This comes at a time when cryptocurrencies tend to be in the bear market. According to US Treasury Secretary Janet Yellen, the high volatility is a high hurdle to enter this market.


However, most funds agree that the volatility has no effect on the long-term preservation/increase in value. Therefore, the greater hurdle is the still uncertain regulation of governments.


As more pension funds educate themselves about diversifying into cryptocurrencies, authorities remain true to their anti-crypto stance. According to the authorities, the risk of the digital assets is too high to be able to secure the old-age provision.

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