Australia's fifth-largest pension fund is thinking about investing in bitcoin

Australia's fifth-largest pension fund is thinking about investing in bitcoin

Queensland Investment Corporation (QIC), which manages A$92.4bn ($69bn) in pension savings, will consider "small investments" in cryptocurrencies, the Financial Times reports.

QIC's head of currencies Stuart Simmons described the first proposed tranche into digital assets as "more of a trickle than a stream".

Obstacles are the uncertain regulatory environment and a still unprepared infrastructure for institutional investment, he added.

The top manager also noted the need for greater protection against "unquantifiable risks" such as fraud, theft and market manipulation.

"I doubt that big players are seriously considering such investments. There is a possibility that as the segment matures, they will change their perspective," Simmons suggested.

The QIC representative stressed that the entry of banks and financial institutions into the cryptocurrency market speaks to its prospects. He did not rule out that under customer pressure, pension funds may eventually decide to do so as well.

Recall that in March the growth fund under the New Zealand voluntary pension savings scheme from NZ Funds Management invested 5% of the $350m under its management in bitcoin.

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