One of the reasons for the new high of Bitcoin is the entry of pension funds!
Recently, Stephen Flegg, a senior portfolio manager at AMP Ltd, an Australian pension and wealth management company, revealed that AMP has previously invested AUD 27 million in Bitcoin, becoming the first large retirement fund in the country to buy Bitcoin.
Australian large pension funds rarely allocate to Bitcoin
Recently, Stephen Flegg stated on LinkedIn that as Bitcoin is experiencing a "stormy year," AMP has "taken a risk."
"We generally believe that although cryptocurrencies are risky, new, and not yet fully proven, their potential is too great to continue to ignore."
AMP Chief Investment Officer Anna Shelley stated that in May of this year, AMP invested approximately AUD 27 million to purchase Bitcoin, which only accounts for 0.05% of the AUD 57 billion in assets under management. At that time, Bitcoin was trading between USD 60,000 and USD 70,000. She mentioned that this investment is part of AMP's diversification strategy.$Strategy(MSTR.US)$Coinbase(COIN.US)$Mara(MARA.US)$CleanSpark(CLSK.US)
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