A UK pension fund has made history by directly allocating 3% of its assets to Bitcoin, a first for the country. The move, advised by pension specialist Cartwright, underscores a growing interest in cryptocurrency among institutional investors.
Cartwright, a leading figure in the UK’s investment scene, has been encouraging institutional investors to consider Bitcoin as a strategic asset. The firm emphasized that the decision to allocate to Bitcoin was made after careful consideration of factors such as ESG, investment case, and security.
The investment is held in direct Bitcoin custody, with a robust security framework involving multiple independent institutions. This approach aims to mitigate risks associated with cryptocurrency investments while maximizing potential returns.
This bold move by the UK pension fund aligns with a broader trend of institutional interest in Bitcoin. In the US, similar initiatives are gaining momentum, with states like Florida and Wisconsin exploring Bitcoin investments for their public pension funds.
As the cryptocurrency market continues to evolve, it’s clear that Bitcoin is increasingly being recognized as a viable asset class for institutional investors seeking diversification and long-term growth.