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    Home » US government pension funds invest in cryptocurrency

    US government pension funds invest in cryptocurrency

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    By BlockchainJournal on February 13, 2019 News
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    Morgan Creek Digital, an institutional digital asset manager , said it had attracted the first investments from US state pension funds in the cryptocurrency industry.

    According to Bloomberg, citing the company's founder Anthony Pompliano, two Fairfax County (Virginia) retirement plans have become the anchor investors of the new venture capital fund Morgan Creek Blockchain Opportunities Fund, which is focused on digital assets.

    The total amount of funds raised amounted to $ 40 million, and in addition to the Fairfax County Police and Fairfax County Employees Pension Plans, the insurance company, university and private funds became investors. Pompiano refused to provide more detailed information.

    On Twitter, he wrote :

    “This morning, our Morgan Creek Digital team announced a new $ 40 million crypto-venture fund with two public retirement plans as anchor investors.

    Institutions do not arrive. They are already here. ”

    This was our new public pensions.

    The institutions aren't coming.

    They're already here. ?

    – Pomp ? (@APompliano) February 12, 2019

    Many associate the further strengthening and growth of the crypto market with the arrival of institutional investors. This was, for example, discussed by Mike Novogratz (Mike Novogratz) or experts of the global audit firm KPMG.

    In December, JPMorgan Chase analysts, led by Nikolaos Panigirtzoglou, concluded that, on the contrary, institutions are losing interest in cryptocurrencies and leaving the market. However, Panigirzoglu recently said that this may be a temporary phenomenon, and institutional interest in Bitcoin may revive.

    Publication date 13.02.2019
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