In the face of increasing interest in Bitcoin and cryptocurrencies, corporate companies cannot remain indifferent to this interest.
According to the news of the Financial Times, it was learned that Queensland Investment Corporation (QIC), Australia’s fifth largest pension fund, will invest in cryptocurrencies.
The company, which manages $69 billion in assets in total, stated that it can make small investments in the crypto money sector, although it thinks that cryptocurrencies are risky due to their volatile nature.
Stuart Simmons, director of QIC, told the Financial Times that the company is government dependent and is considering making small investments in the crypto space due to the lack of regulatory clarity regarding cryptocurrencies in the country.
Simmons stated that pension fund managers have stayed away from the crypto money market until now, with a few exceptions, and will start investing after the crypto market matures.
There are some uncertainties at the moment and the operational infrastructure for institutional investment is still immature.
I don’t think there is an inevitability for funds and institutional investors to invest in crypto, but as the market matures, there is a possibility that funds will invest as well.
Simmons added that conservative investors will feel more comfortable with their investments as regulatory requirements become clear and the industry matures from a “wild west” market to a more professional one.