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2024-03-19 05:17:10 Eastern Standard Time
The Government Pension Investment Fund (GPIF), the world’s largest pension fund with more than $1.5 trillion under management, is considering the possibility of adding new investment assets to its portfolio.
An announcement released by GPIF on March 19 stated that pension funds are seeking information on how to further diversify their investments. Bitcoin is among the sectors GPIF plans to explore in the coming years.
GPIF is also considering diversifying into gold, forestry and agricultural land, which the fund considers largely “illiquid” but are not currently included in its investment portfolio. .
The request for information comes as the $1.5 trillion pension fund gains attention from new areas of the economy and society. GPIF’s current investments are concentrated in traditional assets such as stocks and bonds.
It also focuses on real estate and infrastructure.
Growing interest in Bitcoin
GPIF’s latest move is in the form of a long-term study, aimed at consolidating investments in line with technological advances. GPIF will also investigate how pension funds in other countries incorporate assets such as Bitcoin into their portfolios.
However, GPIF said its approach will emphasize sustainability and risk management.
GPIF said it was simply requesting information and its announcement did not indicate that the fund planned to adopt the featured investment assets. Further consideration of such investments will be based on the information collected in this request.
As GPIF begins to move towards potential future investments in Bitcoin, interest in cryptocurrencies from institutional investors is increasing.
Earlier this year, a CBOE report noted that the approval of a spot Bitcoin ETF in the US could attract more pension funds and other registered investment vehicles to the asset.
Spot ETFs have attracted crazy amounts of money in recent weeks, helping push Bitcoin prices to an all-time high of over $73,000 last week.
The post World’s largest pension fund GPIF seeks to diversify into Bitcoin appeared first on Invezz
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