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22 April 2021

Pension funds and insurance firms alive to Bitcoin investment proposal

Pension funds and insurance firms alive to Bitcoin investment proposal

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Pension funds and insurance firms alive to Bitcoin investment proposal.

With pension funds and insurance joining other public corporations in investing in Bitcoin, attention is now shifting to whether governments themselves will begin to invest in BTC via their sovereign wealth funds.

Since then, a few other pension funds and insurance firms have executed some form of exposure to Bitcoin.

NYDIG CEO Robert Gutmann has also provided further confirmation that life and annuity companies are increasingly reevaluating their investment allocation with a view to engineering some exposure to Bitcoin.

According to Gutmann, the current drive for BTC exposure for pension funds and insurance firms went beyond fears of currency debasement to concerns over the risks associated with having insufficient cover for dollar-denominated liabilities, stating:.

For OMERS and other pension funds suffering their largest losses since the 2008 crisis, the foregone opportunity of not adding any Bitcoin exposure is becoming more apparent.

Apart from pension funds and insurance firms, reports are emerging that sovereign wealth funds may become the next major participants in the institutional Bitcoin investment scene.

While having direct exposure is likely what these talks are about, Norway’s oil fund — the government’s pension fund — holds an indirect Bitcoin investment.

The world’s largest sovereign wealth fund, with over $1 trillion in assets, hasindirect BTC exposure via its investment in business intelligence firm MicroStrategy.

As is the case with insurance companies and life and annuity firms, Bitcoin likely offers a suitable investment instrument to be used as a hedge against dollar-denominated liabilities.

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