🇰🇷💰 South Korea’s Giant Pension Fund Sets Sights on Bitco
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Updated at: 5 hours ago
{"content":"🇰🇷💰 South Korea’s Giant Pension Fund Sets Sights on Bitcoin — A Historic Move?
With the support of political figures and new cryptocurrency-friendly laws, the National Pension Service (NPS) of South Korea is contemplating making direct Bitcoin investments.
With the support of political figures and new cryptocurrency-friendly laws, the National Pension Service (NPS) of South Korea is contemplating making direct Bitcoin investments.
With an asset base of over $800 billion, the National Pension Service (NPS) of South Korea is considering Bitcoin as a potential investment vehicle. This change is in response to new laws that make it possible for national pension funds to put their money into cryptocurrency. Both major party presidential contenders have voiced their support for public investment initiatives that use digital assets. In his campaign for the Democratic Party leadership position, Lee Jae-myung has promised to provide a safe space for young investors by endorsing spot Bitcoin ETFs.
The NPS is now indirectly involved in the cryptocurrency market via its substantial investments in Coinbase and MicroStrategy. It bought $34 million worth of shares in MicroStrategy in 2024; the company was famous for its large Bitcoin holdings. Furthermore, the NPS put more than $45 million into Coinbase stock, demonstrating the increasing interest of institutions in the cryptocurrency market.
The growing fascination with cryptocurrencies among South Koreans, particularly the elderly, is another factor driving the shift towards direct Bitcoin investing. A recent poll found that 11% of South Korean crypto investors are in their 60s, which is higher than the 8% in their 50s, showing that digital assets are accepted by people of all ages.
Although the NPS has not yet bought Bitcoin outright, there is growing political and legislative support, as well as a change in the demographics of NPS investors, which bodes well for the future of the NPS's investment portfolio, which might include cryptocurrency.
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