According to Odaily Planet Daily, a British pension plan has been criticized for investing £1.5 million in Bitcoin. The move is intended to increase employee returns, but experts warn that this may be "gambling with the future of retirees."
Kingsfleet managing director Colin Low believes pension funds should prioritize long-term investments rather than speculative bets, noting that Bitcoin lacks intrinsic value and it is ironic to bet on it.
Daniel Wiltshire, an actuary at Wiltshire Wealth, called the investment "extremely irresponsible" and urged Britain's financial regulator to step in to protect members.
However, Chris Barry of Thomas Legal believes that allocating less than 5% of funds to cryptocurrencies is “sensible” and recommends that UK pension funds follow the example of their US counterparts.
Previously, Cartwright had successfully guided the UK’s first pension fund to allocate 3% of its assets into Bitcoin, after detailed discussions on ESG, investment cases and security.
