The city, the second largest in New Jersey, is considering allocating a portion of its pension fund to Bitcoin ETFs.
“The question of whether cryptocurrencies/Bitcoin have staying power has largely been answered,” Mayor Steven Fulop stated in a Twitter post. “Cryptocurrencies/Bitcoin have prevailed.”
Fulop revealed that Jersey City’s Employee Retirement System, a pension plan for city employees, is currently updating its paperwork with the U.S. Securities and Exchange Commission (SEC) to allocate one percent of its funds to Bitcoin ETFs.
