Are Sovereign Wealth Funds Interested In Bitcoin?
5 Mar 2021 — Last month, BitGo’s blog discussed 30 companies that have entered the world of Bitcoin: businesses holding bitcoin reserves, funds managing bitcoin assets and educational investments.
However, one major investor class that is clearly missing is the sovereign wealth funds albeit some already reportedly have indirect exposure to cryptocurrencies.
– The Norwegian Government Pension Fund by Norges Bank Investment Management owns almost 600 Bitcoin with its investment in MicroStrategy.
– Singapore’s GIC invested in Coinbase in 2018 and increased in its foray into digital assets through investment of digital asset bank Anchorage, last week.
– KOREA NATIONAL PENSION SERVICE fund invested into 4 companies that operate cryptocurrency exchanges in Korea through two VC funds.
– Belgian sovereign wealth fund SFPI-FPIM invested in blockchain venture firm Tioga Capital Partners in Dec 2020.
While the perception of bitcoin as an investible asset is more accepting recently, it will take more convincing before the sovereign wealth funds will join the party directly.
Haymarket Media Group reported that the development of CBDC may be a key reason for the world’s largest investors not investing in cryptocurrencies.