More and more financial institutions are not only looking at bitcoin and other digital currencies but are also investing in such innovative tools.
One of the Texas pension funds has invested in bitcoin and Ether. The Houston Firefighters Pension Fund acquired $ 25 million worth of cryptocurrencies through NYDIG, a New York investment group.
Currently, the assets of this fund are about $ 4.1 billion. This financial institution directed 0.6% of its portfolio to buy BTC and ETH. Ajit Singh, representing the management of the pension fund, said that cryptocurrencies have already become an asset class. It is impossible to ignore them.
The value of cryptocurrencies will rise as their institutional adoption is now massive. That will help us get a high income, said the top manager of the fund.