UK Pension Fund Allocates 3% Of Assets To Bitcoin Amid Debate

According to Odaily, the first UK pension fund has allocated 3% of its assets to Bitcoin, sparking a debate over the suitability of the cryptocurrency for retirement funds. While some critics argue that Bitcoin's volatility makes it an unsuitable choice for pension investments, others view it as 'digital gold' and a worthy investment. The Times recently published an article discussing whether pension funds should invest in Bitcoin. Previously, it was reported that UK pension fund consultancy Cartwright is urging institutional investors to consider Bitcoin in their asset allocations. The consultancy has successfully guided the country's first pension fund to make this allocation. Glenn Cameron, Cartwright's Head of Digital Assets, revealed that an unnamed fund allocated 3% of its £50 million ($65 million) assets to Bitcoin last month. This decision followed extensive consultations with the plan's trustees, where environmental, social, and governance (ESG) factors, investment rationale, and security were thoroughly discussed.