Is the pension fund also investing in Bitcoin!?
Recently, Australia's pension fund AMP has stirred up a wave by announcing its first allocation to Bitcoin products, investing up to 27 million Australian dollars (approximately 133 million Hong Kong dollars), becoming the country's first major retirement fund to venture into Bitcoin! Although Bitcoin has surpassed the $100,000 mark this year, many large funds still have concerns about its volatility. AMP's Chief Investment Officer Anna Shelley pointed out that this decision is based on structural opportunities in the digital asset industry, especially after mainstream investment institutions launched Bitcoin ETFs and other products.
AMP's Senior Portfolio Manager Steve Flegg shared his views on LinkedIn, stating that although cryptocurrencies are fraught with risks and are not yet mature, their potential is enormous and cannot be ignored. They positioned themselves through a dynamic asset allocation strategy in May this year, when the price of Bitcoin was between $60,000 and $70,000. As the price has risen, this investment has already yielded substantial returns.
However, dissenting voices have also been raised. Reserve Bank of Australia Governor Michele Bullock bluntly stated that cryptocurrencies do not hold a position in the Australian economy, and many critics believe that pension funds should not include cryptocurrencies in their portfolios, as they do not generate income.
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