According to TechFlow, the mayor of Jersey City, New Jersey, Steven Fulop, recently announced on social media that the city's municipal pension plan will invest in Bitcoin through an exchange-traded fund (ETF). Although the specific investment amount has not yet been announced, it is expected to be similar to the 2% allocation ratio of Wisconsin's pension earlier this year. Fulop said that relevant documents are being updated to the U.S. Securities and Exchange Commission (SEC) and the investment is expected to be completed in "late summer." Fulop emphasized that the existence of cryptocurrency and Bitcoin is a foregone conclusion, and said that blockchain is one of the most important new technological innovations after the Internet.
It is worth noting that public pension funds are slowly but steadily growing in their interest in Bitcoin. In addition to Jersey City, pension funds in Wisconsin, Fairfax County, Virginia, and other places have also dabbled in cryptocurrency investments.
