Crypto currencies are a High risk investment and it can give high yields over the long-term or it can completely collapse if it is one of the Pump and Dump Alt coins.
Topic: New Jersey Pension Invested $7M in Bitcoin Mining - page 2. (Read 187 times)
A responsible fund administrator will only invest a small percentage of the whole Pension Fund into High Risk investments, but nowhere are there mention made of what percentage are invested of the whole fund. If it is say... 2% of the fund, then I will not say it is reckless to do this... but if this is higher than that... then I will be worried as a member of that Pension Fund.
Crypto currencies are a High risk investment and it can give high yields over the long-term or it can completely collapse if it is one of the Pump and Dump Alt coins.
Crypto currencies are a High risk investment and it can give high yields over the long-term or it can completely collapse if it is one of the Pump and Dump Alt coins.
Well, that's a really risky investment considering that bitcoin is a volatile investment especially using pension as a capital for the investment. I hope that the investment will be fruitful though and I think it will bear big profit because it might need some time.
I wouldn't say it is a risky investment. $7M out of $30bn is only around 0.023% if my arithmetic is still intact. lol
That's quite low in my opinion, but at least it is a start and could produce a snowball effect between pension funds. That's good news anyway. Shout out to New Jersey!
The New Jersey State Pension Fund invested several million dollars in two large companies in the area, seeing the upward trend of cryptocurrency companies in the previous quarter.
The pension fund's capital management sector ended in June with an investment of $ 3.66 million in two blockchain companies (NASDAQ: RIOT) and a $ 3.39 million digital marathon holding (NASDAQ: MARA).
The New Jersey Joint Pension Fund has invested a total of $ 30 billion in the future of the state's employees.
This seems to be the first time this cryptocurrency allocation has been made by the organization in New Jersey. Other government pension funds, especially in California, have been considering investing in shares of bitcoin mining companies in recent months.
New Jersey Investment Division delayed responding to comment.
Source: https://www.coindesk.com/new-jersey-pension-invested-7m-in-bitcoin-mining-stocks-last-quarter
The pension fund's capital management sector ended in June with an investment of $ 3.66 million in two blockchain companies (NASDAQ: RIOT) and a $ 3.39 million digital marathon holding (NASDAQ: MARA).
The New Jersey Joint Pension Fund has invested a total of $ 30 billion in the future of the state's employees.
This seems to be the first time this cryptocurrency allocation has been made by the organization in New Jersey. Other government pension funds, especially in California, have been considering investing in shares of bitcoin mining companies in recent months.
New Jersey Investment Division delayed responding to comment.
Source: https://www.coindesk.com/new-jersey-pension-invested-7m-in-bitcoin-mining-stocks-last-quarter
While the people who get into the job of fund manager for such a larger investment institution are generally quite clever, they will often times fall victim to popularity trends just like anyone else and this way they can always cover their back in future by saying they allocated some money to cryptocurrency. It is definitely worth noting that they are investing in profitable companies that have good reason to continue making margins in future - they're probably indirectly invested in Coinbase too after their recent stock market listing. On the whole though, $7 million out of $30 billion invested assets is a tiny amount of their overall assets but a good start I guess.
[...] 401Ks are individual retirement plans that only apply to a single person.
I have never trusted RIOT since it basically abandoned it's previous business venture to become a bitcoin company. The company used to be known as Bioptix. It's a huge red flag when a company does a complete 180 and starts a completely new business that had nothing to do with it's previous business. I guess it has fairly stable operations now, but I've never gotten over the initial distrust.
I have never trusted RIOT since it basically abandoned it's previous business venture to become a bitcoin company. The company used to be known as Bioptix. It's a huge red flag when a company does a complete 180 and starts a completely new business that had nothing to do with it's previous business. I guess it has fairly stable operations now, but I've never gotten over the initial distrust.
That's funny though how state is investing the money of pension fund which they will need to return with composite amount and total corpus amount to the pension holders. This is really really bad idea if you look at it in accordance with the future prospects. What would happen if suddenly Bitcoin collapses? Are not they are afraid of loosing all those funds in a blink of an eye. I know that BTC holds promising path ahead but that's just belief not assurance.
Whenever Government is using the public money for the stuff like above rather than public sector developments then they are gambling it!
Or, there is another possibility of this one. They might be in the plans of supporting bitcoin because they themselves in the adoption phase in future. May be they know as one of the country from USA, they have bigger plans for crypto world and don't wanna miss the chance to invest today.
Well, that's a really risky investment considering that bitcoin is a volatile investment especially using pension as a capital for the investment.
This is a shitpost that I'm replying to, but you're right that it's risky. However, I just took a look at the stocks in question (RIOT and MARA), and it looks like they've been performing pretty well since their inception. And I thank OP for linking to the article and mentioning those stocks in his post, because I had no idea those two companies even existed and put them on my watchlist. Investing in either one of them would be a great way to get some "mining exposure" without actually having to invest, run, and maintain all the equipment necessary to mine bitcoin yourself.Looks like Marathon Digital Holdings is out of Las Vegas, NV but mines in North Dakota--smart, because I can only imagine how much cooling they'd need if the mining was being done in Las Vegas. North Dakota, on the other hand, is known for its frigid temperatures.
I have to say, I'm also kind of surprised that a pension fund would buy stocks like these, but if they're administering 401k's (and I don't know that they are), some participants may want high risk/high return investments. In any case, this is pretty cool!
A pension fund doesn't invest in or administer 401Ks. Pension funds are a different type of retirement account where the employer is responsible for funding and investing the assets for the purpose of paying out of the pool when employees retire. 401Ks are individual retirement plans that only apply to a single person.
I have never trusted RIOT since it basically abandoned it's previous business venture to become a bitcoin company. The company used to be known as Bioptix. It's a huge red flag when a company does a complete 180 and starts a completely new business that had nothing to do with it's previous business. I guess it has fairly stable operations now, but I've never gotten over the initial distrust.
Well, that's a really risky investment considering that bitcoin is a volatile investment especially using pension as a capital for the investment.
This is a shitpost that I'm replying to, but you're right that it's risky. However, I just took a look at the stocks in question (RIOT and MARA), and it looks like they've been performing pretty well since their inception. And I thank OP for linking to the article and mentioning those stocks in his post, because I had no idea those two companies even existed and put them on my watchlist. Investing in either one of them would be a great way to get some "mining exposure" without actually having to invest, run, and maintain all the equipment necessary to mine bitcoin yourself.Looks like Marathon Digital Holdings is out of Las Vegas, NV but mines in North Dakota--smart, because I can only imagine how much cooling they'd need if the mining was being done in Las Vegas. North Dakota, on the other hand, is known for its frigid temperatures.
I have to say, I'm also kind of surprised that a pension fund would buy stocks like these, but if they're administering 401k's (and I don't know that they are), some participants may want high risk/high return investments. In any case, this is pretty cool!
I think more and more institutions will invest in cryptocurrencies.
As well-known investment institutions and listed companies choose to invest in Bitcoin, it will be normal for government agencies to join in.
As well-known investment institutions and listed companies choose to invest in Bitcoin, it will be normal for government agencies to join in.
Well, that's a really risky investment considering that bitcoin is a volatile investment especially using pension as a capital for the investment. I hope that the investment will be fruitful though and I think it will bear big profit because it might need some time.
The New Jersey State Pension Fund invested several million dollars in two large companies in the area, seeing the upward trend of cryptocurrency companies in the previous quarter.
The pension fund's capital management sector ended in June with an investment of $ 3.66 million in two blockchain companies (NASDAQ: RIOT) and a $ 3.39 million digital marathon holding (NASDAQ: MARA).
The New Jersey Joint Pension Fund has invested a total of $ 30 billion in the future of the state's employees.
This seems to be the first time this cryptocurrency allocation has been made by the organization in New Jersey. Other government pension funds, especially in California, have been considering investing in shares of bitcoin mining companies in recent months.
New Jersey Investment Division delayed responding to comment.
Source: https://www.coindesk.com/new-jersey-pension-invested-7m-in-bitcoin-mining-stocks-last-quarter
The pension fund's capital management sector ended in June with an investment of $ 3.66 million in two blockchain companies (NASDAQ: RIOT) and a $ 3.39 million digital marathon holding (NASDAQ: MARA).
The New Jersey Joint Pension Fund has invested a total of $ 30 billion in the future of the state's employees.
This seems to be the first time this cryptocurrency allocation has been made by the organization in New Jersey. Other government pension funds, especially in California, have been considering investing in shares of bitcoin mining companies in recent months.
New Jersey Investment Division delayed responding to comment.
Source: https://www.coindesk.com/new-jersey-pension-invested-7m-in-bitcoin-mining-stocks-last-quarter
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