Falling prices have not affected the interest of U.S. pension funds in cryptocurrency savings. Some funds continue to hold crypto-assets in their 401(k) account investment portfolios despite bearish trends in the market.
U.S. public pension funds remain highly interested in cryptocurrency savings amid the downturn in the crypto market, The Wall Street Journal reports.
The retirement fund serving Houston (Texas, USA) firefighters sees its cryptocurrency assets as a long-term investment and intends to hold them for three to five years, despite market fluctuations. The fund invested $25 million in BTC and ETH through NYDIG in 2021. As of today, those investments have almost halved in value. However, according to the fund’s spokesperson, they are still interested in cryptocurrency, but are not making any additional investments at this time.
Meanwhile, some pension funds see the drop in cryptocurrency prices as an attractive entry point into the market. According to Katherine Molnar, investment chief of the Fairfax County Police Officers Retirement System, the crypto winter could be a great start for crypto investments. Thus, about 4.5% of the Fairfax County Police Officers Retirement System’s assets are invested in crypto-related holdings.
A recent study showed that one-third of American millennials consider crypto retirement savings, and Fidelity Investments will soon allow pensions to be invested in BTC.
