The largest pension fund within the world lost over $164.7 Bln within the Q1 of this year. This is often alike the complete market capitalization of the leading cryptocurrency Bitcoin [BTC].
Pension Fund’s Steepest Decline Since 2008
Japan’s Govt Pension Investment Fund, or GPIF, dropped in value by almost 11% to 150.63 trillion yen or around $1.4 trillion which is the fund’s steepest quarterly decline observed since 2008.
GPIF wasn’t alone observed within its poor performance, major stock indexes like Dow Jones also revealed negative numbers. Interestingly, Bitcoin’s performance was almost similar, where its price from 1st January to 31st March fell by approximately an equivalent range of 11%.
Thus, this is often not a case where Bitcoin supporters are ready to champion Bitcoin’s perceived safe-haven status. On the another hand, had GPIF invested just 0.1% of its assets under management or $1.5 Bln in Bitcoin, within the starting of the first quarter, this would have created extreme buying pressure on the market. The likely outcome — a huge Bitcoin Bull Run and positive returns for the crypto portion of the pension fund’s portfolio.
Bitcoin Might Be A Good Option In Todays Time
Pension funds are naturally a number of the foremost conservative investors. Purchasing $1.5 Bln worth of Bitcoin – around 208,000 BTC – within just a short period of time span seems like almost an impossible task.
Grayscale’s GBTC fund is presently holding around 386,659 Bitcoins.
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