Japan’s official government pension fund is curious about Bitcoin (BTC) and crypto.
On Tuesday, the Government Pension Investment Fund (GPIF) requested information from the public on illiquid assets that it hasn’t already invested in.
The fund listed specific examples of potential investments that it is looking for info about, including forests, farmland, gold and crypto assets like Bitcoin.
The GPIF is the largest pool of retirement savings in the world, according to Top1000funds.com. The fund is already invested in domestic bonds, domestic stocks, foreign bonds, foreign stocks, real estate, infrastructure and private equity.
The GPIF’s request materialized amid a potential shift in the crypto landscape in Japan. Reports last month indicated Japanese Prime Minister Fumio Kishida’s administration was proposing revised legislation that would lift a restriction that prevents investment funds and venture capital firms from directly holding cryptocurrencies.
The legislative move is reportedly part of Kishida’s broader effort to revive Japan’s economy, which includes supporting Web3 businesses. The proposal adds to Japan’s recent decisions to relax some of its strict regulations on crypto token listings and taxation.
Bitcoin is trading at $62,179 at time of writing. The top-ranked crypto asset by market cap is down more than 8% in the past 24 hours.
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- Source: https://dailyhodl.com/2024/03/20/1400000000000-pension-fund-in-japan-exploring-diversification-to-bitcoin-and-gold/
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