Rapidly evolving blockchain technology and growing interest in cryptocurrencies are beginning to have a significant impact on the financial strategies of public institutions.
On July 25, Mayor Stephen Fulop announced that the city was updating its Securities and Exchange Commission (SEC) filings to include Bitcoin ETFs in its pension investments, following the Wisconsin Pension Fund’s recent decision to allocate 2% of its assets to Bitcoin ETFs.
Shortly after the Jersey City mayor’s announcement that a portion of the city’s pension fund would be allocated to purchase a Bitcoin ETF, the state of Michigan also revealed its intentions, investing $6.6 million in the ARK ETF for its pension fund.
BREAKING: 🇺🇸 Michigan Retirement System has bought $6.6 million #Bitcoin through the ARK ETF.
✅ Wisconsin
✅ Michigan
✅ Jersey City— Bitcoin Archive (@BTC_Archive) July 26, 2024
The latest analysis from crypto research firm Alphractal suggests that the connection between altcoin markets and Bitcoin has weakened once again.
Arthur Hayes, the founder of BitMEX, has made a bold statement regarding Bitcoin’s role in the changing global financial landscape.
China has fired back at the U.S. with its own set of tariffs, marking another chapter in the escalating global trade conflict that began with President Donald Trump’s tariff announcement on April 2.
Bitcoin has once again demonstrated its resilience in the face of a turbulent market, outperforming the Nasdaq 100 index since the start of the year.