Odaily Planet Daily News: A UK pension scheme has faced criticism for investing in Bitcoin. This £1.5 million investment comes from its £50 million asset pool, aimed at increasing employee returns. This move occurred before the significant rise in Bitcoin prices following Trump's election victory. Several experts criticized the pension fund's decision, warning that it risks 'gambling with retirees' futures.' Colin Low, Managing Director of Kingsfleet, called the move 'strange.' He believes that pension funds should prioritize long-term investments rather than speculative bets. Low pointed out the irony of a fund with such a long investment horizon betting its beneficiaries' assets on Bitcoin, which he believes lacks intrinsic value. Daniel Wiltshire, an actuary at Wiltshire Wealth, described the investment as 'extremely irresponsible.' He emphasized that pension trustees must manage assets prudently and urged UK financial regulators to intervene to protect members. However, there are also views supporting the fund's approach, with Chris Barry, a director at Thomas Legal, stating that allocating less than 5% of funds to cryptocurrency is 'wise' and urging UK pension funds to follow the example of their American counterparts who have been investing in cryptocurrency for years. (Sky News) Previously, UK pension fund consultancy Cartwright has been urging institutional investors to allocate assets to Bitcoin and has successfully guided the country's first pension fund to allocate this asset. Glenn Cameron, Head of Digital Assets at Cartwright, stated that this unnamed fund allocated 3% of its £50 million ($65 million) to Bitcoin last month after 'long discussions with the trustees of the scheme regarding ESG, investment case, and security.'

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