cryptocurrencies It recorded a tremendous rise and growth in 2021. It met with great interest from both retail and institutional investors. So much so that it attracted great interest from pension funds, which are among institutional investors.
Wall Street JournalPension funds, which manage the retirement savings of public employees, continue to show interest in cryptocurrencies despite the bear market.
WSJ reports stated that many pension funds investing in cryptocurrencies suffered losses due to the bear market and high volatility in 2022.
However, despite tough market conditions and losses, pension funds continue to rise in cryptocurrencies and are considering doubling their crypto investments.
in last October Bitcoin (BTC) and to Ethereum (ETH) The Houston-based pension fund for firefighters, which invested $25 million, also lost more than half the value of its investments due to the bear market.
Houston pension fund, which stands behind its investments despite this huge loss cryptocurrencies He said they understood its nature and that what happened was normal.
Speaking to the WSJ in this context, Houston Firefighters Pension Fund investment chief Ajit Singh “Of course we would like it not to be like that, we would prefer otherwise, but volatility and large fluctuations are inherent in cryptocurrencies.” said.
Another Virginia-based pension fund, which has $6.6 billion and nearly 30,000 people under its management, said it holds 4.5% of its assets in cryptocurrencies.
This pension fund sees the bear market as an opportunity to invest in cryptocurrencies.
Interviewing the WSJ in this context, the chief of the fund said, “With fewer people willing to invest in crypto in the crypto winter, the returns are more attractive.” said.
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