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
French tech firm Blockchain Group has taken a major leap into Bitcoin territory, announcing a groundbreaking partnership with asset manager TOBAM that could see up to €300 million in fresh capital channeled into BTC purchases.
On-chain analyst Willy Woo has shared a long-term vision for Bitcoin that distances its value from fiat benchmarks and aligns it with a slice of the global economy.
Strategy has acquired 1,045 more BTC for $110.2 million, raising its total holdings to 582,000 BTC—worth over $62 billion.
Michael Saylor, the outspoken Bitcoin advocate and founder of Strategy (formerly MicroStrategy), has once again signaled the company’s intention to add more BTC to its already massive holdings—continuing what appears to be a weekly accumulation ritual.