Topic: Firefighters pension fund invests 25$ million in crypto - page 3. (Read 245 times)
Funds like that have been investing into diverse options like this for quite some time, taking more risks than we would think of such an organisation, so Inam not really surprised about this. But things like this are the first steps into mass addoption and it makes me hopefull.
25$ million represents less than 0,5% of their total funds
IMO any more than that would be playing with fire--no pun intended. There's a reason crypto generally doesn't correlate with other asset classes, and I think that's because it's such a new thing and hasn't attracted the attention of huge institutional investors who tend to buy and sell stocks and whatever else in tandem. Firefighters are among the bravest people in the world, and I really hope this investment strategy of Singh's bears fruit. $25 million doesn't seem like a lot for a pension fund, but maybe that's because I'm not in that industry.
Highlights:
Red hot: Houston firefighters pension fund goes crypto
Although 25$ million represents less than 0,5% of their total funds, I think that is good news for bitcoin and ethereum enthusiasts. Serious investors help crypto currencies to grow solid and dilute volatility, what prevents deep corrections and crashes in the market. News like this should be spreaded to most people as possible, so they can also suggest crypto investments for the pension funds or investment funds in general they belong.
Do you agree news like this have a positive impact or are they indifferent in your opinion?
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The Houston Firefighters’ Relief and Retirement Fund – which is based in Texas in the US and has $5.5bn of assets banked – said it invested $25m in Bitcoin and Ether.
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“I see this as another tool to manage my risk,” said Ajit Singh, the chief investment officer for fund. “It has a positive expected return and it manages my risk. It has a low correlation to every other asset class.”
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Singh said he preferred direct tokens, rather than taking on risk associated with futures-related investments.
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The Houston fund handles retirement benefits for more than 6,600 active and retired firefighters and family beneficiaries. Since 2004, active firefighters have contributed 9% of their salary to the fund, with the city of Houston contributing at least twice that amount.
Red hot: Houston firefighters pension fund goes crypto
Although 25$ million represents less than 0,5% of their total funds, I think that is good news for bitcoin and ethereum enthusiasts. Serious investors help crypto currencies to grow solid and dilute volatility, what prevents deep corrections and crashes in the market. News like this should be spreaded to most people as possible, so they can also suggest crypto investments for the pension funds or investment funds in general they belong.
Do you agree news like this have a positive impact or are they indifferent in your opinion?
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