Pension Funds Investing In Crypto For The First Time Ever In The U.S.
One of the great things about being involved in the cryptocurrency community is that many feel that we are still “early to the game”. There are still many enthusiasts and traders who celebrate in knowing that there are countries and organizations that decide to accept cryptocurrency for the first time. For example, Crypto Chronicle has previously reported on the stories involving “first crypto banks” and “first cryptocurrency exchanges” in certain countries.
It appears as though there is a new historic milestone in the cryptocurrency world. For the first time ever, it appears that a U.S. pension fund is investing in a crypto venture capital fund.
About The Achievement
The announcement was made by none other than Morgan Creek Digital, which is a well-known cryptocurrency management firm geared towards institutional investors. The firm made headlines last year for betting that its own index would beat out the S&P index over the next decade. No one took Morgan Creek Digital up on the bet.
The firm originally planned to raise $25 million, but ended up raising $40 million, which goes to show that investors are still very much interested in the cryptocurrency market, despite the fact that the price action of Bitcoin (BTC) and other cryptocurrencies has been bearish for so long now.
About The Investors
For those wondering about who is actually investing into the fund – two pension funds in Fairfax County, Virginia, are the “anchor investors”. Some of the other investors include a university endowment and a private foundation, although no more details were provided from Anthony Pompliano.
Pompliano is one of the most well-known cryptocurrency influencers, and is a founder of Morgan Creek Digital, as well. His twitter account boasts well over 180,000 followers, and he also is the creator of a “digital email newsletter” that analyzes crypto news, entitled “Off The Chain”.