One of the reasons for Bitcoin's new high: pension funds are entering the market!
Recently, a senior portfolio manager at Australian pension and wealth management company AMP Ltd revealed that AMP has invested AUD 27 million in Bitcoin, becoming the first major retirement fund in the country to purchase Bitcoin.
Rare Bitcoin Allocation by Australian Major Pension Fund
Recently, AMP senior portfolio manager Stephen Flegg stated on LinkedIn that as Bitcoin experiences a "stormy year," AMP has "taken the plunge."
"We generally believe that although cryptocurrencies are risky, new, and not yet fully proven, their potential is too great to continue ignoring."
AMP Chief Investment Officer Anna Shelley said that in May this year, AMP invested approximately AUD 27 million in Bitcoin, accounting for only 0.05% of its managed AUD 57 billion funds. At the time, Bitcoin was trading between $60,000 and $70,000. She stated that this investment is part of AMP's diversification strategy.$Strategy(MSTR.US)$Coinbase(COIN.US)$Mara(MARA.US)$CleanSpark(CLSK.US)
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