Japan’s $1.5 Trillion Pension Fund Seeks Info on Bitcoin for Portfolio Expansion

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2024/03/19/japans-1-5-trillion-pension-fund-seeks-info-on-bitcoin-for-portfolio-expansion/ on 2024-03-19. Article ID: SD1818Tdca2dc31. Author: Violet Vallaya. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2024/03/19/japans-1-5-trillion-pension-fund-seeks-info-on-bitcoin-for-portfolio-expansion/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

The Government Pension Investment Fund (GPIF), the world’s largest pension fund, has announced it is seeking information on Bitcoin for portfolio expansion.

The GPIF stated it seeks “basic knowledge about the assets targeted for information provision” and wants to understand “how overseas pension funds incorporate them into their portfolios.”

The GPIF, which manages over $1.5 trillion in assets is the world’s largest pension fund. It is responsible for investing the retirement savings of over 67 million Japanese citizens.

The move is a significant development for Bitcoin, as it signals that the world’s largest pension fund is taking the asset seriously. The GPIF’s interest in Bitcoin comes as the cryptocurrency has gained increasing institutional acceptance in recent months.

In January, The U.S. Securities and Exchange Commission approved the listing and trading of several spot Bitcoin exchange-traded product (ETP) shares.

Notably, in 2014, Ecuador, a country in South America, banned Bitcoin and other cryptocurrencies in an attempt to create a state-backed digital currency known as “Sistema de Dinero Elеctrónico” (Electronic Money System), which was pegged to the US dollar. However, this initiative didn’t gain the desired traction.

After the state-backed digital currency experiment, Ecuador slowly warmed up to Bitcoin. Businesses started accepting Bitcoin payments, and a growing number of ATMs facilitated its exchange.

The GPIF’s exploration of Bitcoin is another sign that the cryptocurrency is gaining mainstream acceptance. However, the organization emphasized its announcement does not guarantee future investment.

The exploration comes as Japan passed new laws enabling investment funds to hold Bitcoin directly. It indicates a broader move towards legitimizing Bitcoin within the world’s third-largest economy.

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VIOLET

Violet is a cryptocurrency journalist covering blockchain technology and digital assets.

Violet holds positions in BTC. This article is provided for informational рurposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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