Michael Thaler predicts that pension funds will need some Bitcoin

MicroStrategy co-founder Michael Saylor predicted in a recent article on the X social media network that U.S. pension funds, which collectively manage more than $27 trillion in assets, will need "some Bitcoin."
His predictions now seem far-fetched. In a filing Tuesday, the Wisconsin Investment Commission (SWIB), which manages the state's public pensions, disclosed that it had made an acquisition of $99 million worth of BlackRock Bitcoin ETF (IBIT) stock. Eric Balchunas, senior ETF analyst at Bloomberg, said this could be a watershed moment for institutional adoption. Balchunas predicts that other pension funds could also follow in SWIB's footsteps and join the ETFs bandwagon.
Considering how risk-averse pension funds are, SWIB's Bitcoin investment is very compelling. Therefore, it is certain that institutional investors are becoming more comfortable holding Bitcoin after the launch of a large number of ETFs earlier this year.
Earlier this month, BlackRock's Robert Mitchnick revealed that some major institutional investors, including pension funds, were conducting due diligence before venturing into Bitcoin.
Longest major companies have disclosed their Bitcoin ETF holdings ahead of the May 15 deadline for filing quarterly 13F regulatory filings. According to USA Today, JPMorgan Chase, Edmond de Rothschild (Switzerland), Wells Fargo, and Susquehana International Group (SIG)) are among the big names who are now exposed to these novelties.
Saylor previously predicted that 2024 would usher in an era of institutional adoption of Bitcoin. #比特币新闻 Michael Thaler #Crypto Assets adoption
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