World's Largest Pension Fund Eyes Bitcoin For Portfolio Diversification
Portfolio Pulse from Benzinga Neuro
The Government Pension Investment Fund (GPIF) of Japan, the world's largest pension fund, is exploring Bitcoin (BTC) as a diversification asset amid its significant value rally. GPIF is researching various 'illiquidity assets' including Bitcoin, forests, and farmland. This interest aligns with Bitcoin reaching new all-time highs, following a year of over 130% value increase, partly due to the launch of Bitcoin ETFs in the U.S. The move reflects a shift in institutional attitudes towards cryptocurrency, despite its volatility.
March 19, 2024 | 12:44 pm
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The GPIF of Japan's potential inclusion of Bitcoin in its investment portfolio could lead to increased institutional demand for Bitcoin, supporting its price in the short term.
The GPIF's exploration into Bitcoin as a diversification asset, especially during a period of significant value rally and the launch of Bitcoin ETFs in the U.S., indicates a growing institutional acceptance of cryptocurrencies. This could lead to increased demand for Bitcoin from other institutional investors, potentially supporting its price in the short term.
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