Pension Funds Investing In Crypto Is A Big Deal!
Bitcoin is back near $4,000, its highest level since early January. The rally in crypto is across the board as BitcoinCash, Ethereum, Litecoin, Monero and XRP are all at or near their 30-day highs.
I believe that much of the recent strength is the market reacting to multiple stories about public pension funds starting to make investments in cryptocurrencies (or at least make those investments public). For me, the first story that attracted my attention was that two public pensions funds anchored Morgan Creek’s new $40 million Blockchain Venture Capital Fund as reported on forbes.com and elsewhere. After that, several stories about the University of Michigan’s endowment investing in crypto linked funds also surfaced. I find the endowment’s investment particularly intriguing as it does seem like a natural fit for universities to be more involved in crypto given how many millennials have embraced crypto.
I have had the pleasure of meeting @MarkYusko of Morgan Creek and discussing what it would take to gain more institutional traction in the crypto space.
Read more @Forbes
